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    Weekly Highlights: BTC and ETH shows strength, Market Cap Increases

    By Ammar Mukhtar

    May 31,2022

    9:40 AM UTC

    The market had shown us quite a drop in the past month. With Bitcoin (BTC) dropping from its all-time high to a value of $26k and bouncing from there, we have had a fair share of volatility. This week has proven to be better for cryptocurrency. With Bitcoin (BTC) bouncing from the price of $29k and touching a price of $31.5k, we have seen a surge in altcoins as well. With Ethereum touching the mark of $1,950, the market seems to be stabilized for now. Read on to study more about the movement of the market and to get a better insight so you can make better decisions.

    Highlights of the Week

    • Bitcoin (BTC) today increased in price and went from $29k to $31.5k and showed us an increase of about 3% in the past 24 hours.
    • Ethereum (ETH) as usual is coupled with the movement of Bitcoin (BTC) has also increased in price and we saw an increase of about 3% in it as well touching a price of $1963 at the time of writing.
    • The Crypto trading platform declared that Binance Italy got administrative endorsement in the country through enrollment as a Cryptocurrency Service Provider with the Organismo Agenti e Mediatori (OAM)
    • Cryptocurrency custodian Anubi Digital said it has enlisted to the virtual cash administrators list kept up with by OAM. As per the library guidelines, Anubi Digital will communicate to the OAM information on exchanges done in the Italian area on a quarterly premise
    • Esports association Galaxy Racer joined forces with the metaverse project, Quint, putting USD 25m in the task’s local QUINT token too.
    • Non-fungible token (NFT) game Stepn (GMT) will obstruct clients situated in a central area of China to agree with administrative arrangements, halting giving GPS and IP geolocation administrations to them on July 15.
    • The US National Football League (NFL), NFL Players Association (NFLPA), and gaming innovation studio Mythical Games reported an organization to launch NFL Rivals, another NFL computer game that influences blockchain innovation
    • The clock of the Solana (SOL) blockchain is at present uncontrolled of true-time by around 30 minutes because of longer than ideal slot times on the organization, the task revealed. The issue doesn’t affect network execution
    • BitMEX reported that its spot exchanging trade has arrived at USD 24m in 24-hour exchanging volume for a 100 percent everyday increment, the most noteworthy subsequent to going live 10 days prior.
    • Huobi declared the securing of Latin American crypto trade Bitex for an undisclosed sum

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