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- NAGAX Weekly Recap 4 July - 8 July
NAGAX Weekly Recap 4 July - 8 July
Over the past week, some of the top cryptocurrencies managed to recover some of their previous losses. Does it mean that the worst is already over? Let's find out the details of the crypto world over the last week in our review 👇
Bitcoin spiked above the $21,800 resistance level
Traders rejoice after the BTC price spike 7% to $21,800. Hope springs eternal for many crypto investors after the market saw positive price movement on July 7, alongside gains in the traditional market. The green day in the markets comes amid a backdrop of increasing jobless claims in the U.S., which is a possible signal that “the pressure on wages may have now peaked”. Nevertheless, analysts say that the bullish mood persists and Bitcoin has not yet finally moved to the growth stage.
Tethering the Blockchain: a coin that could revolutionise crypto
Cryptocurrency volatility is a double-edged sword. On the one hand, volatility provides great opportunities for investors. On the other hand, volatility could make it difficult to use cryptocurrencies as a means of storing value. But, did you know that there is a way to reduce the potential risks and negative properties of volatility? Stablecoins like Tether (USDT) serve exactly that purpose. Unlike other cryptocurrencies, the price of Tether usually holds steady at $1.
Elon Musk’s Boring Company will let you pay for a ride with Dogecoin
Elon Musk's The Boring Company announced that it already accepts payments in Dogecoin for travel in its new tunnels. The new payment option surfaced Friday as the Boring Company opened its first Loop station outside the Las Vegas Convention Centre, which already has three stops. The prospect of Dogecoin being used as payment for Loop services in Las Vegas could positively affect the value of the meme coin.
Coca-Cola launches love-inspired LGBTQIA+ NFT collection
World-renowned soft drinks company Coca-Cola has launched an NFT collection in celebration of the LGBTQIA+ community. Titled ‘The Coca-Cola Pride Collection,’ the project is composed of celebratory digital art pieces which aim to shine color-filled light on to the community’s members and spread a message of love. The collection consists of 136 unique NFTs which have been designed and commissioned by South African designer and human rights activist Rich Mnisi.
Thanks for reading! Have a great weekend — more news next week! 😉
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Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.
