Week 16 | 4/18/22 - 4/23/22
By Matthew BrienenNews Flash
Monday 4.18.22: The fast-growing TerraUSD (UST) stablecoin from the Terra ecosystem has hit another key milestone. With more than $17 billion in market capitalization, it's become crypto’s third-largest stablecoin.
Tuesday 4.19.22: The first bitcoin exchange-traded fund (ETF) on Australia’s main market, the Australian Securities Exchange (ASX), is set to list next week as the country’s major equity markets clearing house gives participants the green light, reported the Australian Financial Review.
Wednesday 4.20.22: Crypto exchange Coinbase ($COIN) launched the beta version of its long-awaited NFT marketplace on Wednesday, allowing a small group of users from a waitlist of 3 million to use the platform for the first time.
Thursday 4.21.22: Kadena, founded by JP Morgan blockchain alumni Stuart Popejoy and Will Martino, has announced a $100 million grant program for Web3 developers to build projects on its blockchain. “We’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem.”
Friday 4.22.22: Payment giant Stripe is launching a new crypto pilot on Twitter. The move is part of an expansion of Stripe’s Connect service, which lets businesses connect with the firm’s payment APIs, including its KYC onboarding.
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Bitcoin Technical Recap
BTC had a strong start to the week after briefly dipping deeply below the large ascending channel in wee hours of Monday morning. Price saw nice follow through in its recovery testing just over $43,000. Bitcoin is now challenging the lower bound of the channel once more; we are looking for some large daily candles to be printed in the coming week to give us more confidence the structure is still intact.
BTC/USD Daily Chart
Ethereum Technical Recap
ETH is in a similar position as BTC, after finding resistance at key level $3,200. Price is currently testing the lower bound of its larger correctional structure. Next key support comes in $2,700-$2,800. All eyes on Bitcoin.
ETH/USD Daily Chart
Project Breakdowns & Daily Update Recaps
Didn't catch all the daily update streams? We've got you covered with highlights & links to the full episodes. Monday 4.18.22: Brian Decker gives a presentation about Solana, including a brief overview, updates, and the utility that makes it a powerhouse. Matthew Brienen discusses new equipment for Ukraine's military funded by crypto donations, and Kevin O'Leary-backed DeFi platform WonderFi.
Tuesday 4.19.22: Matthew presents a top-down analysis, breaking down the Dow Jones and discussing a priced-out market for younger generations. He also provides a technical analysis of stocks, precious metals, and, of course, cryptocurrency.
Wednesday 4.20.22: Brian discusses the variouslayer 2 scaling solutions and shares his top three on Ethereum. Matthew provides a technical analysis of Netflix stock, a cryptocurrency market analysis, and a summary of the current SEC v. Ripple Labs case.
Thursday 4.21.22: Dan Habib delivers a lengthy presentation on Powell's comments on a recession, the macroeconomic outlook for a recession, and an overview of Bitcoin or Ethereum backed mortgages. Dan also provides an analysis of some on-chain analytics as well as a technical breakdown of Bitcoin.
Friday 4.22.22: Chase Tantalo provides an overview of STEPN, introducing move-to-earn and how to make money with it right now. Brian Decker does a live giveaway for 1 Ethereum and 10 Solana.