After several volatile sessions, the cryptocurrency market returns to record gains this Thursday (28). Bitcoin (BTC) is up 2.1% in the last 24 hours to $39,750.77, according to data from CoinGecko. Ethereum gains 1.7% to trade at $2,938.81. In Brazil, Bitcoin shows little variation, up 0.8%, quoted at R$ 196,932.23, according to the Bitcoin Portal Index (IPB). After five days of erratic performance, the top cryptocurrency finally manages to rise, but analysts question whether the rally will be sustainable amid a earnings season with disappointing results, monetary tightening and an uncertain macroeconomic scenario, according to CoinDesk analysis. The geopolitical environment does not help to encourage investors. European leaders have accused Russia of blackmailing them by suspending natural gas supplies to Poland and Bulgaria. According to the New York Times, there are growing fears that the war could go beyond Ukraine’s borders after days of explosions in Russia.
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Although Bitcoin has not yet decoupled from the overall performance of technology stocks, there is a good chance that a bearish phase in this sector will result in a decoupling, points out Rufas Kamau in a Forbes article. This shift would be accelerated if major economies enter a period of stagflation, defined by rising prices, rising unemployment and stagnant demand. As a result, the largest cryptocurrency could increasingly function as a store of value. In an interview with Bloomberg, André Jakurski, a pioneer of hedge funds, showed a different view. He says he is not a fan of cryptocurrencies, which he considers a valid speculative instrument, but highlights volatility as a negative factor. Major altcoins also rebound on Thursday, with gains for Binance Coin (3.5%), XRP (0.5%), Solana (1%), Terra (2.8%), Cardano (0.5%) %), Polkadot (1.8%) and Avalanche (0.4%). Dogecoin (-1.4%) and Shiba Inu (-0.4%) go against the grain, CoinGecko data show. ApeCoin (APE) is up almost 7% in the last 24 hours, with an appreciation of about 20% in the last seven days. Yuga Labs, creators of the Bored Ape Yacht Club collection, plans to launch its Otherside metaverse this Saturday. ApeCoin is now the largest metaverse token by market cap. Other highlights Grayscale Investmentsa fund manager tied to digital tokens with $36 billion under management, wants to expand in Europe and is currently in talks with potential partners at various meetings, CEO Michael Sonnenshein said in an interview with the Financial Times. The Primo Group announced on Wednesday (27) the purchase of three companies: TopInvest, focused on training financial market professionals; Edufinance, specialized in “valuations”; and Paradigma Education, an analysis company focused on the cryptocurrency market, according to information from NeoFeed. The American startup Tribal announced the sale of US$41 million worth of TRIBL tokens, a digital asset that will be used to reward small and medium-sized businesses that use its financial services for credit and payments, according to InfoMoney. Awarded by the Bill & Melinda Gates FoundationRibon, a Brazilian startup that allows donations to charities without using their own money, received a R$ 20 million investment led by Valor Capital Group, followed by the funds Bitkraft, Kenetic, Flori Ventures and 2TM, owner of the Bitcoin Market , among other investors, according to the Pequenas Empresas & Grandes Negócios portal. events The 5th edition of Sebrae’s Digital Transformation Weekan online and free event held until April 29, has cryptocurrencies among the topics under debate. The objective of the program is to train entrepreneurs to adapt their businesses to the new digital dimensions. The 3rd CryptoMinds Congress starts this Saturday (30) in São Paulo and will be attended by major investors in the crypto market, such as Tone Vays, considered one of the largest bitcoin traders in the world and former vice president of graphic analysis at JPMorgan. A virtual lecture by Mark W, Yusko, founder of Morgan Creek Capital and considered one of the biggest whales in the crypto market, is also confirmed. The event takes place until May 1st at Novotel SP Center Norte. Regulation, Cybersecurity and CBDCs In light of the passing of the cryptocurrency bill in the Senate, national companies showed optimism with the advancement of the regulatory framework, according to a report by the Broadcast agency. Clear rules would allow the market to develop and attract more investment. 2TM also points out that the regulation can guarantee, in addition to protection for consumers, “security for entrepreneurs”. To gain ground in the disputed Brazilian market, which has been attracting big names from abroad as the regulatory framework advances in Congress, the Singapore crypto giant Bybit, a brokerage firm from Singapore, intends to invest at least R$250 million in the country (US$50 million), according to Estadão. In response to an investigation by the British Parliamentthe government said on Thursday it plans to introduce a bill to allow cryptocurrencies to be seized and recovered more quickly to help fight economic crime, according to Reuters. A proposal from the US Securities and Exchange Commission with the aim of strengthening the markets for Treasuries, US Treasury bonds, worries companies in the cryptocurrency sector, points out the Wall Street Journal. The SEC rule does not target crypto trading platforms, but it broadens the definition of the term “exhange,” or exchange. The deadline for submitting comments ended last week, and the agency will now review investor feedback. A federal judge ordered Uber Technologies has turned over documents that could reveal more details about how the company acted in a 2016 data breach, according to the Wall Street Journal. Former Uber chief security officer Joseph Sullivan is accused of trying to hide the incident in which the company allegedly paid $100,000 in bitcoins to hackers to destroy stolen data from an estimated 57 million passengers and drivers. Sullivan denies the allegations. even arrested Since August of last year on charges such as money laundering and crimes against the financial system, Glaidson Acácio dos Santos, the “bitcoin pharaoh”, has a new profile on Instagram, in which he already has about 17,000 followers, highlights O Globo. . After several days of conflicting newsit was finally confirmed on Wednesday (27) that the Central African Republic – one of the poorest countries in the world – has become the second nation to make Bitcoin legal tender, less than a year after the cryptocurrency’s adoption in El Salvador. The Senate of Mexico now has a Bitcoin ATM. The installation of the machine was the brainchild of Senator Indira Kempis, known for being one of the most active voices in defense of cryptocurrencies in the Mexican Congress. And the mayor of New YorkEric Adams, said his government is considering using blockchain technology to record city data, the Financial Times points out. Metaverse, Games and NFTs The Meta Platforms, Facebook, which owns more users than expected, but recorded the slowest revenue growth since going public a decade ago, amid growing competition and privacy concerns in the advertising division, the company’s quarterly report shows. The Goldman Sachs said it has its eye on non-fungible tokens (NFTs) and particularly “tokenization of real assets” with the investment bank’s bet on the crypto universe, highlights CoinDesk. Nike’s first digital sneaker collection, called RTFKT x Nike Dunk Genesis Cryptokicks, was designed to pave the feet of avatars from the metaverse. RTFKT’s NFTs, purchased by Nike in 2021, have already moved BRL 100 million in less than a week, according to Exame. Some NFTs have appreciated 15,000% in 2021, but the trend seems to start to cool off, according to analysis by E-Investor. André Franco, head of research at 2TM, explains that the same factor that makes a game’s NFT rise in value also leads to its failure: value generation. “The faster the game grows in number of users, the stronger the subsequent drop will be, because the high remuneration that makes the game grow a lot also makes it start paying less and less profit (…)”.