Discover the top news in crypto for the week!
Are we in a Crypto Winter? The Sygnum team explores the market fundamentals showing another reality. Meanwhile, the share of stablecoins in the market is rising while the relationship between sports and crypto is growing. Find out the top 5 crypto news of this week.
Digital Nugget: A repeat of the 2018-19 Crypto Winter?
The latest market volatility has led investors to worry about a potential Crypto Winter. But, what do the fundamentals tell us? Today, the quality of crypto projects relies on a growth trajectory and not on artificial token emissions, as in the 2018/2019 correction. Meanwhile, the industry has focused on fulfilling its vision of a decentralised world while investors matured to offer growth-based valuations. Read more
Record stablecoin market share points to crypto upside: JPMorgan
Stablecoins have been facing many challenges lately, with the downfall of TerraUSD and the depeg of other projects. However, in a new note, JP Morgan highlighted that the share of stablecoins in the market just reached an all-time high at above 14 percent. The note suggests that the rise of stablecoins could mean a current ‘oversold status’ in crypto markets with a ‘significant upside from here.’ Read more
Deloitte, NYDIG partner to help institutions adopt Bitcoin
Big Four consulting firm Deloitte is partnering with crypto infrastructure provider NYDIG to onboard more companies into crypto. With the new partnership, Deloitte and NYDIG will offer services focused on Bitcoin adoption to new and existing clients. Examples of adoption could include ‘embedding bitcoin wallets into existing user experiences, powering bitcoin rewards programs, and enabling bitcoin-secured lending.’ Read more
Consulting giant KPMG makes its first foray into Metaverse
KPMG is the latest company to delve into the Metaverse after another consulting firm, PwC, bought digital real estate. Citi has called the Metaverse a $13 trillion opportunity, attracting more institutions to this new trend. A new report by DappRadar showed that GameFi and Metaverse are attracting more users and funding even with the correction in crypto markets. Read more
Sports fans twice as likely to buy bitcoin, ethereum, NFTs
Sports and crypto are mingling more and more. A new survey by Seton Hall University showed that sports fans are more likely to be involved in crypto and non-fungible tokens (NFTs). In the survey, 57 percent of households with sports fans owned digital assets, while households without sports fans only had a crypto adoption rate of 24 percent. Many of the leading crypto brokers have sponsored sports clubs and famous arenas, while fans are becoming more involved with digital collections through NFTs. Read more
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