search icon

    Market Snapshot

    • S&P Futures

      4,132.5

    • Dow Futures

      32,789

    • Nasdaq Futures

      13,103.25

    blog search icon

    The Recovering Market and its Tales

    By Ammar Mukhtar

    Aug 02,2022

    8:49 AM UTC

    Bitcoin had a sharp price increase at the beginning of the week; however, it has since grown steadily more stable. It gradually started to drop over the past twenty-four hours. It increased by 12.27 percent in the previous week, but within the past twenty-four hours, it has decreased by roughly 1.20 percent.

    Highlights of the week

    • The current value of BTC is $22,902. It has made a weekly gain of 8.65% but over the last twenty-four hours, it has a fall in its value by 1.20%.
    • ETH is valued at $1591. But over the last week, ETC has been able to make gains of about 43.56% over the last week. It is expected to fluctuate throughout the rest of the year.
    • Nomad is a cross-informing stage for decentralized finance (DeFi). This was achieved during the expressed convention’s spanning, during which an expected 150 million dollars of its Total Locked Value (TVL) were broken and taken. This was achieved by eliminating wrapped BTC, wrapped Ethereum, wrapped USD currency, and others.
    • The Security Exchange Commission (SEC) is working towards execution against crypto fraudsters. It has currently charged 11 people for crypto pyramid scheme. Furthermore, the US attorney general is asking for any whistleblowers for giving it tip offs for any exploitative practice in the market.
    • Ethereum is expected to fork due to its limitations. But when this fork happens, the Proof-of-Work, Ethereum will split from the Proof-of-Stake Ethereum and both are to be listed in exchanges.
    • The major NFT gaming protocol, Axie Infinity, was hit by an attack in March. The Axie Infinity developers denies any accusations of wrongdoing as some of the AXS tokens were moved to another blockchain created by the same developers.

    Solana is attempting to improve its marketing by opening a physical store in New York that shall consist of web3 features with different devices.

    More From Stocks telegraph