It has been a very positive week for the crypto market, not only because of the positive fluctuations in the prices of a large part of these assets, but also because of everything that has been announced these days. Are big things coming for digital assets? Below we review some of the most relevant news of the week.

Amazing! Binance has become one of Twitter’s biggest shareholders as the world’s largest exchange confirmed its involvement as an equity investor in Elon Musk’s $44 billion deal to buy the company. Musk’s Twitter acquisition process came to an end last Thursday, when the deal officially closed after months of whirling in and out of court. The surprise came when it was announced that one of the most important crypto companies in the world, Binance, would invest a total of $500 million to be part of the development of the new era for this platform.

Changpeng Zhao, founder and CEO of Binance, has mentioned that he aims to unify social networks and Web3 to broaden the use and adoption of blockchain technology. CZ stated that there are many reasons to support the agreement, including fighting for freedom of expression on Twitter, as it is a global platform for freedom of expression with a strong entrepreneurial spirit, ideals very similar to what the development of Web3 seeks. . Furthermore, he added that he also uses Twitter very frequently.

Musk’s first major decision was to immediately fire the top executives of the social media platform, as it seems he will be looking to develop new projects with new people, in which crypto assets would be involved.

Google joins the development of Web3! Google unveiled its blockchain, Node Engine, this week. This product is aimed at Ethereum developers, seeking to create a hosting of nodes in the cloud for Web3 development, which will facilitate the management tasks of those who build computing solutions in this space.

The first blockchain to support Blockchain Node Engine will be Ethereum, the company has reported, but of course this leaves open the possibility of adding new networks in the future.

It seems that we are starting to see bank card companies getting involved in the world of cryptocurrencies, and soon we could see a wider variety of products that integrate the ecosystem of digital assets.

This week the multinational financial services giant, Visa, began the development of its plan for the creation of its own cryptocurrency wallet. In addition, as if that were not enough, the American company filed an application to register its product with the United States Patent and Trademark Office (USPTO).

This wallet would have both a desktop and an online version, and would also include support not only for cryptocurrencies, but also for other types of crypto assets such as NFTs and digital currencies in general.

For its part, the rival company in the sector, Mastercard, announced just a few days ago its platform, Crypto SourceTM, which allows institutions to offer cryptocurrency trading tools and services to their clients. This program, in association with regulated and authorized cryptocurrency custody providers, will make it possible for financial institutions associated with Mastercard to have access to a wide range of services for the purchase, custody and sale of crypto assets, with identity verification, cybersecurity and advisory services. .

In other news, cryptocurrency exchange FTX is working on creating a stablecoin, CEO Sam Bankman-Fried told The Big Whale in an interview.

Bankman-Fried has said that it is highly likely that FTX will create a stablecoin as the exchange knows how to create one and is thinking of the best partner to work with on such a project. However, a couple of days ago, Bankman-Fried pointed out that FTX is still determining the path that they will follow for the development of the project and the characteristics of it, so we will have to wait to know the details of this project.

We already talked about Twitter, Google, Visa, Mastercard; now it is the turn of Apple, who could not be left behind and in the same way seeks to enter the world of crypto assets. This week, the company finally made clear the rules that it will implement for the development, trade and use of cryptocurrencies and NFTs on its platform and devices, establishing what apps can and cannot do with these technologies.

In addition, they mentioned that applications can now facilitate “cryptocurrency transactions on an approved exchange”, also depending on the user’s geographical location, since Apple will approve crypto transactions only in countries that allow the operation of digital asset exchanges.

Finally, the company also revealed the guidelines regarding NFTs. App Store apps can use in-app purchases to sell, trade, mint, list, and transfer the tokens. However, the company restricts applications from trading NFTs with third-party applications, for which a great controversy has been unleashed, since it is feared that something similar to what happened with Epic Games will happen.

Now let’s talk a bit about regulations, since crypto assets could become regulated financial instruments in the United Kingdom, after a new amendment to the Financial Services and Markets Bill was presented, which could regulate digital assets in the European country. The legislators of the House of Commons voted in favor of this proposal, presented by the parliamentarian Andrew Griffith, which would make currencies such as Bitcoin, and stablecoins regulated forms of payment, in addition to controlling the advertisements of this type of products and expel unauthorized companies.

Bitcoin is above $20,300, after a very positive week in which there was a growth of more than 8%. It appears that the world’s largest digital asset price is making a small correction, and is currently bouncing near a local resistance level generated in recent weeks, which could become support, so it will be important to watch its behavior. in this area, since if it continues to rise we could see BTC close to $22,600.BTC

BTC/USDT 1D (TradingView Chart).

For its part, Ethereum is trading above $1,560, and makes a movement quite similar to Bitcoin. However, in this case we do not have a clear support level nearby as was the case with BTC, so if it continues to fall we find a next level near $1,410. It will be important to analyze and be attentive to both assets, since they have a fairly high correlation and a confirmation of violation in one of them, could indicate the short-term movement of both.

ETH/USDT 1D (TradingView Chart).

As has been seen, the development of the crypto ecosystem, blockchain and Web3, is growing considerably, and large companies are beginning to work on projects for the development of new technologies and open this market so that it reaches more and more people. . Interestingly, this happens in the middle of a bear market, which shows us that these sharp drops also represent new opportunities for both large companies and investors. Without further ado, we wish you an amazing week.