Key Takeaways

• The Bureau of Labor Statistics reported headline inflation for the USA at 8.5%, above the Dow Jones estimate of 8.4%. To reduce inflation, the Federal Reserve has begun raising interest rates and will continue to do so into 2023. 

• The Bank for International Settlements (BIS) released a study on how central bank digital currencies (CBDCs) can play a role in financial inclusion. The range of topics included using CBDCs as a catalyst to innovate and also to serve as a complement to existing systems.

• The popular NFT collection is set to release a trilogy film. Also, Bored Ape Yacht Club (BAYC)’s creator, Yuga Labs, has teamed up with Superplastic to create vinyl art collectibles based on the collection.

• The general price, volume, and volatility indices were mixed at -5.77%, -8.27%, and +23.23% respectively.

Highlights

• Bank of Japan official says Digital Yen won’t be used to achieve negative interest rate

• Bank of Canada using quantum computing to simulate crypto adoption scenarios

• Central Bank of Brazil confirms it will run a pilot test for its CBDC this year

• Institutional Asset Manager enlists Fireblocks to help with crypto security

• Fortnite creators Epic Games raise $2B from Sony and LEGO to fund Metaverse plans

• Pantera Capital set to close $1.3B Blockchain fund

• BlackRock to handle Circle's USDC cash reserves as part of $400M funding round

• Ava Labs raises $350M at $5.25B valuation: Report

• A16z leads $4M seed round for Web 3 recurring payments startup

• AMC adds Dogecoin, Shiba Inu payments to mobile app

• Polygon pledges $20M to fund its carbon negative initiative

• Opera expands crypto browser to iOS for access to 9 Blockchain ecosystems

Check the latest prices on Crypto.com/Price.

Market Index Tokens

* Market index tokens: BTC, ETH, XMR, LINK, EOS, XLM, XTZ, ATOM, ADA, DOT

DeFi Index Tokens

*DeFI index tokens: AAVE, ANC, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI

Other Tokens

*NFT tokens: THETA, CHZ, ENJ, FLOW, FET, WAX, OGN, UOS, OMI

*Gaming tokens: AXS, MANA, SAND, ALICE, YGG, MBOX, ILV, ATLAS, POLIS, DAWN

*Meme tokens: DOGE, SHIB, MONA, HOGE, PEPECASH

Thank you for reading! We hope you find our Weekly Market Update enlightening!

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