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Crypto SWOT: Bitcoin Hit Another ATH Last Week Reaching Nearly $69,000

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  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Realio Network (RIO), rising a whopping 1,302,638,898%.
  • Bitcoin and Ethereum hit record prices this week amid a broad rally in cryptocurrencies, writes Bloomberg. Some analysts attribute the price surge to investors searching for a hedge against inflation. Bitcoin reached $68,513 while Ether reached $4,840. The total value of digital tokens tracked by CoinGecko reached $3.1 trillion.
  • The total value of all cryptocurrency assets has just exceeded $3 trillion, according to Bloomberg. This is a massive number when compared to Apple and Microsoft which each have a market cap of $2.5 trillion. The entire crypto sector is around 20% more valuable than the equity of the two biggest technology companies.


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was LevelUp (LVLUP), down 100%.
  • Apple CEO Tim Cook has no immediate plans to accept cryptocurrency on Apple Pay, reports Bloomberg, or as a means of tender for its products.
  • Coinbase Global Inc. fell as much as 10% on Wednesday, its biggest drop since May, after the firm reported worse-than-expected third-quarter revenue figures, writes Bloomberg. The drop stripped about $2.7 billion in value from the largest U.S cryptocurrency exchange.


  • Argo Blockchain filed for a $57.5 million offering of secured notes to fund a Texas mining facility. In an article published by CoinTelegraph, the company explains its intent to use the proceeds for construction costs and rigs at its Texas crypto mining facility. The site would give Argo access to up to 800 MW of electrical power.
  • Bitcoin hit another record high this week and is flirting with $69,000 for the first time. The climb comes after inflation data bolstered the argument that the cryptocurrency is a hedge against inflation.

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  • La Haus, a Latin American property technology startup backed by Bezon Expeditions, said it will accept Bitcoin for real estate transactions. The move adds to the region’s growing adoption of the cryptocurrency as a means of payment, reports Bloomberg.


  • Bitwise is the latest investment firm to tap the brakes on a futures-backed Bitcoin exchange-traded fund (ETF) as expensive roll costs loom large. CEO Matt Hougan tweeted the announcement on Wednesday. This follows a similar move by Invesco, that announced it would not pursue its futures-based ETF, mere hours before the first one launched last month.
  • Blackrock’s global head of iShares and index investments said the firm has no current plans to launch cryptocurrency ETFs, reports CoinDesk. The asset manager also said the firm is holding back on launching such products due to the “opaque” regulatory framework and liquidity concerns.
  • Regulators have started to question areas like cryptocurrency lending amid concerns about risks for participants and possible spillovers into mainstream finance. Defi’s overall market value was more than $170 billion on Friday, according to tracker CoinGecko, compared with some $22 billion at the start of 2021, writes Bloomberg.
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