Simon Peters, crypto asset analyst at multi-asset trading platform eTorohas shared for this second week of January with Cointelegraph en Español some comments on current events in the crypto-asset market.
According to Peter, during the first week of the year crypto assets performed well, in the case of Bitcoin and Ether they remained in positive territory for seven days, while Solana and Cardano registered large bounces.
“Bitcoin, for its part, started the week below $16,400 but was up for seven days, rallying above $17,000 greenbacks last night, up 3.65% in seven days.”Peters mentioned.
As for Ether, he commented that it experienced the biggest gains, starting last week below $1,185 before trading above $1,250 in mid-week. “Overnight the price rallied back to just below $1,300 where it is trading this morning, up 9.7% in seven days”he added.
In which crypto assets did investors seek refuge?
Regarding the year 2022, a difficult year for investors in crypto assets, with significant price volatility not experienced since 2018, Peters mentioned that based on eToro data from 2022, investors sought refuge in crypto assets like Bitcoin and Ether.
“Bitcoin differs from other projects by being the original decentralized crypto-asset, while Ethereum has seen high-profile developments in the last year, including the highly anticipated Fusion”Peters pointed out in this regard.
He also pointed out that Despite last year’s volatility, around half of the crypto assets on the eToro platform have shown growth in open positions in the last 12 months.
“This suggests that investors have continued to look for investment ideas in the crypto asset market and may even have been looking for crypto assets at a discounted price thanks to market weakness”he explained.
Mastercard Launches Web3 Artist Accelerator
In other news, Peters highlighted the fact that payment provider Mastercard has launched a new accelerator designed to help artists, singers, musicians and other creatives use blockchain technology to promote brand engagement among fans.
In this sense, he himself mentioned and highlighted that one of the biggest selling points for Web3 – still a broad label in crypto – is the power of the decentralized internet.
“Web3 takes this power away from large control groups and returns it to individual content creators. The concept of Web3 is still in its infancy, but crypto and blockchain technology has a lot to say about it, giving control back to content creators and talented people who want to make a living directly from what they create.”Peters commented.
Cardano and Solana experience sudden price spikes
On the other hand, far from the largest crypto assets on the market, Peters spoke about both Cardano and Solana, detailing that they have seen significant price bounces in recent days for a variety of reasons.
“Cardano has seen a price resurgence in recent days thanks to an uptick in total value locked (TVL) on-chain. Although still well below all-time highs in March 2022, the blockchain is seeing some bounce in demand through particular projects like Meld, Indigo, and WingRiders. In general, all projects offer solutions through the Cardano blockchain”he explained.
“Solana, for its part, has suffered a sharp price cut since last year, but it has been one of the best-performing crypto assets on the market over the past week. This is mainly due to the launch of a new token on the blockchain, called BONK, which has been created by the Solana developers as a rival to SHIB.”he concluded.
This content is for informational and educational purposes only and should not be construed as investment advice or an investment recommendation. The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph.
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