Companies are doing whatever possible to stay solvent during crypto winter—freezing redemptions, laying off employees, cutting spending, filing for bankruptcy, negotiating buyouts—but those conditions couldn’t prevent markets from warming over the last week.
Bitcoin grew 8% over the last seven days to $22,337, as of this writing, but the world’s favorite cryptocurrency was vastly outperformed by Ethereum, which blew up 27% to $1,523.
Anticipation for Ethereum’s upcoming network upgrade—the so-called merge—appears to have driven its growth, although Ethereum Classic (a fork of Ethereum based on the original ledger, which includes records of an infamous $55 million DAO hack that was wiped from Ethereum by vote), surged 80% this week to $27. Clearly, while some buyers are looking to the future, others are feeling nostalgic.
Other blockchains with high functionality smart contracts did well: Solana grew 9% to $40.04, Cardano rallied 10% to $0.47, Polkadot rose 9% to $7.25, NEAR Protocol...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...