The Week in Crypto
Huge NFT news and announcements combined with reversing crypto markets and an historical Ethereum event made for a pretty interesting week in crypto.
The Crypto Week in Summary
- BAYC's ApeCoin hits markets
- EU votes down PoW ban
- ConsenSys valuation doubles to $7 billion
- Crypto legalized in Ukraine
Top Market Trends:
- Crypto markets stabilized, eased by positive regulatory signals from EU, US, Ukraine, and South Korea and despite continued global market volatility.
- ApeCoin was launched by Yuga labs along with a DAO for the Bored Ape Yacht Club (BAYC) NFT community, led by Reddit co-founder Alexis Ohanian and FTX’s Amy Wu.
- Kiln public testnet was launched as the last testing grounds before Ethereum goes to the next level of its transition from PoW to PoS consensus mechanism.
- Ukraine's President legalized and set regulations in motion for digital assets in the still-besieged country. To date, Ukraine has received over $100 million in crypto donations.
Digital asset markets shook off a sideways funk in reaction to positive news on the regulatory front.
- Bitcoin leveled out for the first half of the week, then experienced some spikes and dips around hawkish Fed news of the first rate hike in 3 years.
- Popular TA indicators including multiple oscillators and moving averages were resting in the neutral zone for BTC/USD in reaction to the leveling off of market action this week.
- BTC ended the week gaining 3.40%
- RUNE continued its rally and had a major upturn following recent upgrades. RUNE was up 28.74% over the last 7 days.
- Monero (XMR) and ZCash (ZEC) jumped for the second week in a row as privacy coins gather attention amid sanctions and reserve currency uncertainty.
- Analysts say rangebound Cardano (ADA) is hinting at a breakout of 20% on the horizon.
Get Ready for DEX Trading at Quadency!
- Zuckerberg confirms that NFTs are coming to Instagram and that users will be able to mint their own NFTs in the app. Read more.
- ConsenSys blockchain infrastructure provider had their valuation double to $7 billion during a $450 million raise led by Microsoft and Softbank. Read more.
- Wasabi wallet continued to experience controversy over whether Chainalys was truly able to demix CoinJoined bitcoin transactions. Read more.
- Rep. Tom Emmer sent a bi-partisan letter to SEC head Gary Gensler citing criticism of the Agency’s handling of crypto regulation and recommending more public comment. Read more.
Crypto startups must not be weighed down by extra-jurisdictional and burdensome reporting requirements. We will ensure our regulators do not kill American innovation and opportunities.— Tom Emmer (@RepTomEmmer) March 16, 2022
Spotlight on: QUAD Token Utility
QUAD is Quadency’s native platform token and with its recent introduction to DEX markets and liquidity pools, it’s time to take a close look at this high-utility token:
- Quadency users will enjoy discounted bot usage fees based on their QUAD token holdings.
- Traders can earn QUAD token rewards for providing liquidity, staking QUAD, and soon for referring other users.
- QUAD will be the key to unlocking exclusive access to Quadency’s best new tools and features. The more QUAD you have, the more access you have.
- Quadency's upcoming Bots Marketplace will enable traders to share their custom automated strategies and to earn QUAD tokens in return.
Learn more about Quadency’s QUAD Token
Pro tip: Take advantage of the QUAD Liquidity Rewards Program
With Quadency’s recent launch of QUAD on SushiSwap, traders can now earn a share in trading fees plus a pool of 228,571 QUAD tokens by providing liquidity. Use this formula to calculate your rewards:
Liquidity Rewards= User's Share of the Pool/Total Pool Value*Weekly Reward
Learn more about the QUAD Liquidity Reward Program here.
How to become a QUAD liquidity provider
- Go to Sushi.
- Make sure to have your Web3 wallet connected.
- Next, choose which token pair/pool you want to select for providing liquidity.
- Select ETH or USDC as a base token
- After selecting the desired tokens and the amount, click Supply!
- Get ready to trade CeFi and DeFi in one place: Quadency
- Check out our Guide to DEX Trading
- Discover QUAD tokens and start staking!
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.