NAGAX Weekly Recap 27 June - 1 July
Ughh, when will bulls regain control of the market and head to the moon, eh? 🌝
On this note, this week we talk about the recap for the Bitcoin’s bear market, NFT innovation, a new smartphone from Solana and more. Let's take a quick look. 👇
Bitcoin price remained in a bearish zone below the $21,000 pivot level
Bitcoin price failed to recover above the $21,000 pivot level. The price remained in a bearish zone and extended its decline below the $20,500 support zone. There was also a close below the $20,250 level. BTC spiked below the $20,000, but the bulls were active near $19,800 level. A low has formed near $19,828 and the price is now consolidating losses.
Biden official says US Government could pass stablecoin rules by the end of 2022
The U.S. federal government is working on stablecoin legislation with Congress that could become law by the end of the year. The President’s Working Group on Financial Markets, an intergovernmental group composed of the heads of several financial regulators, met Thursday to discuss recent stablecoin activities and future legislation. This legislation would be introduced by the House Financial Services Committee, the official said.
Solana launched a Web 3.0 phone dubbed “Saga”
Solana Mobile, a subsidiary of Solana Labs, introduced Saga, a flagship Android mobile phone with unique functionality and features tightly integrated with the Solana blockchain making it easy and secure to transact in web3 and manage digital assets, such as tokens and NFTs. Not sure if this product will take off but it might be a good sign for Solana as crypto asset as it has more and more real-life usage compared to hundreds of other altcoins.
Mark Zuckerberg unveils NFT roadmaps for Facebook & Instagram
When it comes to non-fungible tokens (NFTs), it’s no secret that Mark Zuckerberg has big plans. In a panel at the SXSW Festival in March 2022, Zuckerberg said that he planned to turn Instagram into an NFT marketplace. But while they're still building their NFT integrations, NAGAX's NFT Marketplace is already live and welcomes you aboard. 🎉 Release your inner artist and explore ways to earn profit with creativity starting today!
We hope this information helped you catch up in the busy crypto week we had! 😉 See you next week!
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