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.
In this edition of Crypto Espresso, DOGE gets the Musk bump (again), are you ready to jump back into SOL, and is Casper a friendly ghost?
Happy Monday. Special shout-out to the Barmy Army – how’re your heads?
The cryptocurrency market ended Friday’s NYSE trading session on a high note following a tough week that saw more than $300bn (£219.33bn) wiped off its total market capitalisation.
The price of Dogecoin (DOGE) jumped by 15% after Elon Musk tweeted that Tesla would begin accepting the coin as payment for its products. Tesla announced it was considering the move more than a month ago, and its decision to accept it raises a host of questions.
Network Pi says it is up to crypto exchanges to decide whether and when they want to list the coins for trading and not Pi’s Core Team. The organisation insists the move to launch its mainnet is phase three of its deployment plan, marking the point where exchanges can list the coin.
Look at the recent prices for SAND, the coin for the NFT gaming metaverse platform Sandbox, and other metaverse players like Axie Infinity and Decentraland, and there is a very similar volatile pattern. On 14 January, SAND was 42% off its all-time high last November.
The Casper (CSPR) token spiked in value in late November but was unable to hold on to its gains as the broader cryptocurrency markets came under pressure. This is a look at its possibilities and potential.
Talk of Solana (SOL) becoming the “Visa of the digital asset ecosystem” gave it a short-term 8% boost this week but did little to halt the continuing decline of the coin which has lost 45% of its value since November. SOL has now slipped to sixth place in league with largest cryptocurrencies by market capitalisation.
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This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.