By Marcus Sotiriou, Market Analyst on the publicly listed digital asset dealer GlobalBlock (TSXV:BLOK).
Bitcoin broke under $17,000 over the weekend as it’s hovering round $16,700 at time of writing, nonetheless governments all over the world are making progressive adjustments towards the crypto business. In line with an area newspaper, Nigeria will quickly move a invoice that legalises crypto, which contradicts earlier Nigerian laws. Moreover, Hong Kong’s first Bitcoin ETF has formally been listed. Hong Kong is the monetary gateway to China, therefore it could possibly be an impactful backdoor for mainland cash in China to entry Bitcoin.
Aztec, a Web3 privateness layer, has raised $100 million in a Sequence B funding spherical led by the Andreessen Horowitz subsidiary a16z crypto. Aztec at the moment supplies privateness companies for purposes on Ethereum, however now plans to create an encrypted model of Ethereum that may permit people and organisations to transact privately. Privateness is vital sector of crypto, as Joe Andrews, Aztec co-founder, eludes to:
“The world isn’t good to reside in with out encryption. Doing issues with out privateness could be a reasonably scary world and never one we wish.”
A Capital, King River, Variant, SV Angel, Hash Key, Fenbushi, and AVG all participated within the spherical alongside a16z crypto. Amongst the insanity within the crypto markets in current weeks, it’s optimistic to see traders not shying away, and that there’s nonetheless sturdy investor urge for food.