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0 CommentsBreaking crypto news from the last week (Apr. 9 – 15, 2022):
Apr. 9: In the UAE, cryptocurrencies have rapidly been gaining appeal among younger demographics. Latest surveys by market researcher YouGov revealed over 54% of residents aged between 18 and 35 years are expressing increased openness towards crypto.
Apr. 10: CryptoCompare tracker data shows that top-tier crypto exchanges hit an all-time high of 96% market share this year as traders sought lower-risk venues amid broader market volatility.
Apr. 11: As Bloomberg reported, major Bitcoin miners in the US are looking at the Middle East, Europe, and other regions to expand their energy-intensive industry. They are seeking low local electricity prices and liberal regulations on crypto mining.
Apr. 12: Bitcoin dropped 15% on Tuesday, falling below $40,000 for the first time since March 15, while Ethereum was down 14%, falling below $3,000 for the first time since March 23. Bullish traders lost over $439 million, which has been liquidated within 24 hours.
Circle, the issuer of the world’s second-largest stablecoin, USDC, is pursuing international expansion after securing $400 million in funding. BlackRock and Fidelity headlined the new funding round, which follows a $440 million raise last May.
Apr. 13: Ava Labs, the lead developer of Avalanche (AVAX), is raising a new round of funding for $350 million at a market valuation of $5.25 billion, Bloomberg reported. The raise comes as the total value locked (TVL) on the Avalanche blockchain remains steady at around $14.6 billion.
Apr. 14: As crypto adoption continues to rise at unprecedented levels, Stephen Stonberg, CEO of cryptocurrency exchange Bittrex Global, sees the growth of the crypto sector as ‘too big to ignore’ for traditional financial institutions. Just regulatory clarity would provide added impetus to it, he suggests.
Apr. 15: Fasset, a crypto-asset gateway oriented to the Islamic world, is planning a major expansion, seeking to boost the adoption of cryptocurrencies in Indonesia and Pakistan, where it is still viewed with suspicion.
