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    A better week for the Crypto Market – Market Recap

    By Ammar Mukhtar

    May 17,2022

    8:59 AM UTC

    The market has shown us a massive drop in the past week. With Bitcoin (BTC) dropping down to a mere value of $25k. The price eventually did bounce and we saw the coin touch the mark of $31k. During this time a number of coins popped up and we saw surges in their prices. Eventually, the market went into consolidation and we saw that altcoins and tokens came to a halt and now waiting for a more visible movement of BTC. Read on to stay updated with the new highlights of the week so that you can make better decisions.

    Highlights of the Week

    • The new Portuguese Minister of Finance Fernando Medina affirmed that crypto assets will be a part of tax collection soon, as per Portugal.com.
    • Supplier of “institutional-grade” admittance to cryptocurrency markets and liquidity settings Elwood Technologies declared it has shut a USD 70m Series A financing round co-drove by Dawn Capital and Goldman Sachs.
    • Monetary administrations group Nomura will launch another organization to assist institutional clients with differentiating into crypto, DeFi, and NFTs,
    • Crypto stage Voyager Digital said it acquired membership arrangements for a private placement of normal shares of the organization for gross returns of around USD 60m.
    • Bitcoin (BTC) miner Celsius Mining, a mining arm of Celsius Network, has presented a draft enlistment explanation on Form S-1, which organizations generally document fully expecting their first sale of stock,
    • DeFi project DEUS Finance declared it is attempting to reestablish the dollar peg for their DEI stablecoin after its value tumbled to USD 0.52 today.
    • Streaming stage and platform Spotify is trying an element that will allow craftsmen to advance their NFTs, which is presently simply accessible to choose clients, as per Music Ally.
    • Three off-road vehicles (ATVs) for Ukrainian protectors were financed by crypto gifts through the Aid for Ukraine noble cause association
    • The UK Treasury wants to authorize stablecoins for the purpose of payments inside the nation, yet this without excluding algorithmic stablecoins
    • Three South Korean banks acquired USD 31.2m from their crypto trading association partnership in 2021, new information has uncovered
    • Niftables is excited to present the world’s most memorable across-the-board NFT innovation that gives brands and makers the quickest way from vision to their own white-label NFT platforms.

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