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      Crypto Market Review: Highlights and News Stories - Stocks Telegraph

      By Wasim Omar

      Published on

      January 24, 2023

      5:23 PM UTC

      Last Updated on

      March 24, 2023

      6:02 AM UTC

      Crypto Market Review: Highlights and News Stories - Stocks Telegraph

      Strength continues to find itself growing throughout the crypto market in recent days, with positive sentiment creating room for more bulls to jump into action. The king of crypto, Bitcoin jumped to yet another glorious high, crossing the $23,000 mark, the highest point it passed since August, last year. Ethereum too is bearing fruit in this positive climate, making it to as high as $1,663.

      Crypto-Highlights of the week

      • A recent report by reveals that the crypto market achieved a major achievement as 2022 came to a close, with total crypto holders amounting to 425 million individuals across the globe. Approximately half of these were Bitcoin owners. The growing organic trend bodes extremely well for the long-term future of the crypto markets.
      • The governments of Iran and Russia are reportedly in talks about the issuance of a gold-backed stablecoin as a means to carry out payments over international settlements. If successful, this could be a game-changer to the current dollar-based hegemony and open the doors toward crypto-acceptance. However, lawmakers stress that regulations over digital currencies are in strong need before this can come to light.
      • The laying off of employees by tech giants is likely to have a significant immediate impact on metaverse platforms and technologies. In particular, Microsoft will be seriously downsizing its virtual reality teams, which could impact several players with metaverse ecosystems within the crypto and NFT realms.
      • Spain’s central bank is pushing on with its initiative involving a Euro-pegged stablecoin, being launched for issuance and use among the public. Under the program, users may be able to issue these digital coins via fiat money deposits, which would significantly enhance overall transactional transparency.
      • The FBI recently seized bitcoin holdings worth millions of dollars after a ring of international scammers scammed elderly American citizens of their money. The funds were, thereafter, transferred to a digital wallet, which the agencies managed to get hold of and retain the digital assets found within them.

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