This Week at Dacxi: The Latest News, Podcast, and more!
It seemed like the cryptoverse was bathed in a little sunlight last week, with positive signs in the financial markets leading to increased prices for both Bitcoin and Ethereum.
And as you’ll read below, there are many things to feel good about for the future if you’re a crypto investor — especially in Australia and the UK.
Both governments see the undeniable advantages in the development of innovative blockchain and crypto asset technology. Not only that, but Google is also getting in on the act — and where Google goes, the world follows.
This Week’s News Highlights
- The UK government has voted to recognize cryptocurrencies as regulated financial instruments.
- New British Prime Minister Rishi Sunak is very pro-crypto. He wants to make Britain a ‘global hub for crypto asset technology.’
- Following the Merge update, Ethereum has successfully reduced the energy consumption of its network by 99.9%.
- Elon Musk has officially bought Twitter, and Binance will allegedly provide the platform with blockchain tech after it confirms a $500 million investment in the takeover.
- About 58% of institutions invested in crypto during the first half of 2022, according to research by US fintech Fidelity.
- Following a similar FTX partnership earlier this month, Visa is partnering with blockchain.com to offer crypto debit cards.
- Nearly half of US millennials and Gen Zs want crypto investment options for their retirement, according to findings revealed in a survey by US retirement savings giant Charles Schwab.
Bitcoin Update
Bitcoin had a positive week, driven by the same positive macroeconomic indicators that saw a rally in the general financial markets. Tuesday saw gains of +6.2% before a tight channel formed between the 20,000 and 20,300 support and resistance levels.
Ethereum Update
Following a strong weekend push toward the top of a constricting range, strong momentum has continued throughout the week for Ethereum (ETH). It broke out of a two and half month downtrend channel, before successfully retesting it as support ($1,480). Week on week ETH returned 16.61% to close at $1,590.
What’s Happening with Google
Google has increased its presence in the Web3 space by introducing cloud-based Ethereum node services.
- With more technology giants paying attention to the crypto industry, Google is seeking to capture a share of the Ethereum validator market.
- This announcement followed Google Cloud’s partnership with Coinbase to facilitate payments in crypto for its services, and the establishment of Google Cloud’s Digital Assets Team. Although this service will initially just support Ethereum, it is likely that if the product is successful, Google will expand to support other blockchains.
Dacxi Chain’s Latest Podcast
How can we leverage the next wave of disruptive technologies?
This week we dive deep into the future of the exponential age with international speaker, author, and leading future tech strategist — Dr Mark van Rijmenam.
From blockchain and tokenization to AI, Mark shares what you need to know about these emerging technologies, and how to best prepare for a rapidly changing world. Tune in here.
