Week Financial News

In May 2021 OpenSea closed out nearly $140 million in total volume. Fast forward a year and the most dominant NFT marketplace closed over $880 million in less than a week partially because of the Yuga Labs’ The Otherside mint.  As a result of this mint, a fresh surge of liquidity was injected into the NFT ecosystem and as it stands the current NFT total market capitalization is over $19.4 billion. 

New applications for unemployment benefits rose last week for the first time since early April amid other signs the U.S. labor market remains unusually tight.

Institutional investors shed $133 million worth of Bitcoin (BTC) investment products last week, marking the largest week of outflows since June last year.

Bitcoin crossed a major milestone in September 2021, when it became a legal tender for El Salvador. Although this move was condemned by financial regulators, the country’s GDP grew. This was a major development for Bitcoin as many countries considered El Salvador as an experiment and it seems like the Central African Republic has seen enough to follow the trend setter. It might be a matter of time until the next country makes the announcement.Flipkart jumps into Web 3Flipkart surprisingly tweeted on the 28th of April that it is now exploring Web 3.0. The timing of the announcement is interesting as it comes during an extreme uncertainty in the Indian crypto ecosystem. The second reason why it is surprising is that last April they mentioned that they would accept Bitcoin as a method of payment on their platform on April Fool's Day.

The Federal Reserve is tasked with slowing the U.S. economy enough to control inflation but not so much that it tips into recession.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

Bitcoin (BTC) starts a new week with much to make up for after its worst April performance ever.

The month of April has been a forgettable one for equities and cryptocurrency investors. Bitcoin (BTC) plummeted 17% in April to record its worst ever performance in the month of April. Similarly, the Nasdaq Composite plunged 13.3% in April, its worst monthly performance since October 2008. 

The Federal Reserve and Bank of England this week are expected to take fresh steps to curb inflation that is running at multidecade highs, while U.S. employment data is forecast to show another strong month for the labor market.

Since Ethereum Name Service, or ENS, released 10,000 four-digit .eth domains ranging from 0000 to 9999, the nonfungible token collection has caused a stir among NFT investors, speculators and enthusiasts alike. After all 10,000 ENS names sold out in one day, the number of people registering for ENS names and purchasing these digit number names on secondary markets has significantly affected the market's trading volume.

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

New applications for U.S. unemployment benefits fell slightly last week as employers held onto their workers in a tight labor market.

Bitcoin (BTC) reclaimed $39,000 on April 27 after another night of pain saw BTC/USD hit its lowest levels since mid-March.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Bitcoin extended this month’s losses in Monday trade as investors shied away from risk assets amid a more hawkish outlook for Federal Reserve policy tightening. The largest cryptocurrency slid as much as 3.3% to $38,223, the lowest since March 15, and down more than 20% from last month’s high. The second-biggest coin, Ether, slumped as much as 4.8% to $2,799, a level not seen since March 18. Price charts are signaling further declines are likely, technical analysts say. Bitcoin has dropped below its Ichimoku cloud support on a weekly chart, with secondary support only coming in around $27,200, said Katie Stockton, founder and managing partner at Fairlead Strategies. She isn’t alone in seeing more downside.

Six people are confirmed to have died after a mining accident in Poland on Saturday -- the second to hit the country in a week.

Every few days or so, a new case update from the U.S. Securities and Exchange Commission’s lawsuit against Ripple can trigger dramatic changes in the price of the highly-contested crypto asset XRP. That seems to have been the case once again as the coin noted significant losses in the past day and week.

Miami Tech Week took place last week in the South Florida city as part of April's Tech Month programming, which also included NFT Miami and the Bitcoin 2022 conference earlier in the month. Tech Week kicked off with the eMerge Americas conference and the myriad of panel discussions scheduled throughout the city that followed.

The New York state legislature might ban Proof-of-Work (PoW) crypto mining in the state for at least two years, citing environmental concerns. 

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

Bitcoin (BTC) starts a new week in an uncertain place facing uncertain times — is $40,000 now resistance?