🖼️NFTs Outperformed Altcoins #72

Anime NFTs are the new hedge against the global macro environment.

Jan 28, 2022

In today’s issue:

The crypto market is flat with the global market cap sitting at ~$1.6-1.7 trillion. TIME Wonderland saga continues and it seems to be dragging the LUNA ecosystem as well thanks to MIM-UST integration via Anchor and Abracadabra. Global markets stay mixed as the Fed remains hawkish while geopolitical tension seems to be increasing.

In other news, a provision in a House bill might let Treasury Secretary block internal crypto transactions, Robinhood plans to expand its crypto offerings, and Genesis is exploring the institutional NFT market.

We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.

- Curated by Marco Manoppo (@manoppomarco)

Share The WAGMI Journal 📖

📰Market News

⎆House Bill Threatens International Crypto Transactions

Crypto market participants have been sounding the alarm in the past 48 hours regarding a provision in the bill titled America COMPETES Act that would enable the Treasury Secretary to block crypto transactions. Crypto think tank Coin Center wrote a very informative blog post on this matter, urging US citizens to call their members of Congress to take action.

Jerry Brito @jerrybrito

1/ 🚨 IMPORTANT 🚨 Included in the America COMPETES Act just introduced in the House, and which will very likely pass in some form, is a provision that would be disastrous not just for cryptocurrency but for privacy and due process generally. coincenter.org/new-bill-would…

⎆Robinhood Plans to Expands Crypto Offerings

After getting absolutely decimated by its Q4 21 earnings (lost $423M), the retailers’ favorite mobile-trading app has decided to go harder on its crypto offerings, perhaps as a means to sustain or recapture the trading volumes that it has lost post the meme stock and dog coin era. “The company said it has set aggressive goals to start opening up its crypto platform to international customers this year, which it sees as a big opportunity.“

⎆Genesis Explores Institutional NFT Products

Crypto prime broker Genesis stated that the firm held curated NFTs in its 4th quarter earning report. As markets for NFT grow, Genesis plans to launch more product that addresses the needs of institutional traders in the NFT market. Genesis is one of the most notable crypto primer brokerages with more than $100 billion in spot volume in 2021.