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JPMorgan sees higher BTC price potential, a16z unveils $ 4.5 billion cryptocurrency and PayPal hints at greater participation in cryptocurrency and blockchain: Hodler’s Digest, 22-28. May – Mail Bonus

Comes every Saturday, Hodler’s Digest will help you keep track of every single important news that happened this week. Best (and worst) quotes, recordings and highlights of regulation, leading currencies, predictions and much more – a week on Cointelegraph in one link.

Top news this week

Andreessen Horowitz closes $ 4.5 billion worth of cryptocurrencies amid market turmoil

Venture capitalist Andreessen Horowitz, or a16z, has unveiled a new $ 4.5 billion cryptocurrency. The a16z fund is the fourth of its kind and more than twice the amount of the third cryptocurrency fund. With $ 3 billion earmarked for venture capital and $ 1.5 billion for early-stage projects, the fund will seek to invest in companies at various stages of their lives. The new fund Andreessen gives a strong indication that venture capitalism in the cryptocurrency market remains strong despite indications of a cruel bear market.

JPMorgan sets BTC reasonable price at $ 38K, declares cryptocurrency as preferred option

A customer-centric comment from JPMorgan this week reported the banker’s thoughts on Bitcoin, demanding $ 38,000 as the fair value of the asset. This prospect, which seemed good, came as a result of depressing prices for Bitcoin, which have been in the range of less than $ 30,000. But even in February, when BTC was valued at $ 43,000, JPMorgan strategists said that $ 38,000 was a fair market value. This week’s client from JPMorgan also pointed to the possibility of positive pricing measures for the entire cryptocurrency space – provided that venture capital does not deviate.

WEF 2022: PayPal looks to embrace all possible cryptographic and blockchain services

According to Vice President Richard Nash, PayPal has ambitions to give its platform more blockchain and cryptocurrency. “Just walk slowly in the crypto shield by buying / selling / holding in certain jurisdictions,” Nash told the Cointelegraph at the World Economic Forum (WEF) in Davos, Switzerland. “And then we try to work with others to embrace everything we can, whether it’s the coins we have today in PayPal digital wallets, digital personal currencies or the CBDC of the future.

GameStop unveils beta cryptocurrency wallet and upcoming NFT platform

Over time, until GameStop’s NFT Marketplace launches, the company has unveiled a beta release of Ethereum-based wallets. The self-encryption and NFT storage solution is called the GameStop Wallet. The browser-related wallet will go hand in hand with the company’s future NFT marketplace. GameStop is also developing a mobile version of the wallet.

Korean watchdog begins cryptographic risk assessment when Terra 2.0 receives vote

The Financial Supervisory Authority of Korea (FSS) is working to standardize its assessment of digital asset risk following the collapse of the Terra ecosystem. Although FSS’s standardization efforts have only just begun, they are expected to lead to a legal framework for valuing digital assets. At the same time, the CEO of Terraform Labs, Do Kwon, continues with an ecosystem recovery plan, after receiving majority support from his community. The Terra 2.0 ecosystem went live on Friday with a new blockchain and cryptocurrency.

Winners and losers

At the end of the week, Bitcoin (BTC) is at $ 28,449Ether (ETH) at $ 1,729 and XRP at $ 0.37. The total market value is at $ 1.17 trillion, according to to CoinMarketCap.

Among the top 100 cryptocurrencies are the top three winners of the week on altcoin BORA (BORA) at 18.15%, Bitcoin Gold (BTG) at 17.79% and Ethereum Classic (ETC) at 11.09%.

The top three altcoin losers of the week are TerraClassicUSD (USTC) at -46.13%, STEPN (GMT) to -27.38% and Elrond (EGLD) to -25.70%.

For more information on cryptocurrencies, be sure to read the Cointelegraph market analysis.

The most memorable quotes

“Distribution control really puts more control and power back in the hands of the people where it belongs.

Sonali GiovinoHead of Defiyield Communications

“Tasks must monitor the interests of their community and users because in the end it is the most valuable thing you have.

Nicky Chalabiecosystem success and Near Foundation Power Plant Engineer

“Many policy and regulatory issues that limit the power to transfer money have to do with depriving people of their economic freedom.

Jeremy AllaireCEO of Circle

“In TradiFi, people think, ‘I do not want to lose money – how can you help me keep my wealth independent of markets?’ So it’s very risky. While in DeFi, they are like, “Give me these three-digit results, wow!”

Alexander FazelManaging Director of Cooperation at SwissBorg

“The rise of the term ‘Web3’ is encouraging because it means that people see this underlying technology in different applications – the ones they did not necessarily expect.

Gavin Woodco-founder of Polkadot and Ethereum

“There is absolutely no reason why a housing bond could not be an individual digital asset as long as that asset is created and stored properly.

Alex AltmanChief Operating Officer of Seal Storage Technology

Forecast of the week

Bitcoin price could drop to $ 15.5K if it re-examines this historical support level for life

The price of Bitcoin has continued to struggle in recent days and has often been below 30,000 dollars, according to BTC Cointelegraph Price Index. However, the property could still fall considerably further, according to Rekt Capital.

Throughout the history of Bitcoin, the asset’s price has respected the 200-week moving average (200WMA). “#BTC tends to pull -14% to -28% below 200-MA,” Rekt Capital said in detail as part of a thread on Twitter. “And since $ BTC 200-MA now represents the price of ~ $ 22000 … A -14% decline below 200-MA would lead to ~ $ 19000 Bitcoin,” they added. “And if #BTC repeats the depth in March 2020 below 200-MA, $ BTC would revise the ~ $ 15500 price.

FUD of the week

‘Well!’ Elon Musk warns users about the latest deep-fake cryptocurrencies

Did you watch a video of Elon Musk, CEO of Tesla, advertising a 30% profit on cryptocurrencies? Note that the video is a scam. The video was categorized as deeply fake and was cured to look real but is not, as confirmed by a Twitter comment from Musk himself. The video uses real footage of Musk in TED Talk earlier in 2022, modified to deceive viewers into cheating. Deepfakes, however, are nothing new. This recent effort takes advantage of Musk’s fame in line with his well-known cryptographic involvement.

Encryption spam increases by 4,000% in two years – LunarCrush

The last two years have led to a 3,894% increase in cryptocurrency-related spam, according to recent data from LunarCrush, a cryptocurrency service company. One factor that makes the discovery difficult: The undesirable action is not all bottom-bound, as incredible amounts come from humans. Twitter is hot spam, based on LunarCrush data.

Targeted phishing scams provide $ 438K in cryptocurrency and NFT from hacked Beeple account

A hacker or group of hackers recently took over Mike Winkelmann’s Twitter account, alias Beeple. The hackers who managed the account of the well-known NFT artist published a tweet about scams with web fishing, as the scam revolved around Beeple’s recent collaboration with Louis Vuitton. Although Beeple managed to regain control of its Twitter account, the plunder robbed about $ 438,000 worth of ether and NFT from victims.

Best features of Cointelegraph

The moon “created” the superiority of its reality … and says you can too

“Three years and BOOM, you can be whatever you want – a famous musician, a billionaire. No matter what you want to do, everything can be done with the right mindset. “

Crypto is changing the way humanitarian agencies provide assistance and services

“It’s almost as if the whole idea of ​​a distributed, distributed model is exactly what worked in terms of how we worked and set up the system.

How Terra’s collapse will affect future stablecoin rules

The collapse of the stablecoin UST algorithm created a ripple effect for the broader cryptocurrency market and put regulators on high alert.

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