Crypto Market Update 20-01-23

Hello everyone and welcome to our weekly recap 🙂

Here’s a good one, beekeepers in France noticed that their bees were producing honey in unusual shades of green and blue. After investigating, the beekeepers discovered that the bees had been eating remnants of M&M candy shells from a nearby factory. 😅

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Onto this week’s traffic light:

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🔴More enforcement and another bankruptcy.

After the announcement from the DOJ (US Department Of Justice) that they were taking down Bitzlato (read more) , a CEX (Centralised Crypto Exchange), that we must say was not very recognised in the space, comes yet another ’chapter 11’ filing for bankruptcy, this time from Genesis (read more), a crypto lender platform derived from parent company DCG (Digital Currency Group), one of the biggest players in the crypto space with a whopping $50 Billion AUM (Assets Under Management) and managed by Barry Silvert. The measure was taken more as precaution to “evaluate the most effective path to preserve assets” and “providing an optimal outcome (...) for clients”, so at least there are good intentions there. 🙌

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🟡Sundance Film Festival embraces blockchain and crypto film initiatives.

Web3 technologies continue to spread out into real life professional use cases, “crypto/blockchain integrations in the film industry will be opening up a new asset class to all kinds of investors via compliant security tokens and increased fan engagement via NFTs.” said Ali Aksu (read more), the CEO of Untold. The technology can allow for funding or for fan immersion just like last year film director Anthony Hopkins did when he sold out an NFT collection (read more) and even Quentin Tarantino creating NFTs based on his iconic film Pulp Fiction (read more). Take note artists, there are a lot of benefits in using Web3 tech. ✍️

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🟢Women and Crypto is a good match.

Survey data from eToro, a trading and multi-asset brokerage platform, revealed that “there is a significant rise in crypto ownership among women" (read more). Ownership increased from 29% in Q3 2022 to 34% in Q4 of the same year. Male ownership also increased but not by as much, only 1% from 42 to 43. At the same time, still in 2022 the “number of ETH holders grew 3.6x to 87M" (read more). At an estimated 425 Million global crypto investors, Ether holders represent 20% and, unsurprisingly in 1st, BTC holders represent 52%. The interesting fact is that the number of ETH holders grew 263% between January and December 2022 whilst BTC owners grew by only 20%. The great news is that adoption wise, the total number of crypto investors grew 39% from 306 Million to 425 Million as stated before. 📈

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And that's all for this week, a pretty calm one considering the last couple ones. Have a great weekend👋

PS: we’re almost ready with our open beta. 🤫

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