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What’s Happening in Crypto? It Was the Best Week in Months!

You would think that with everything going on right now, the market would be down and feeling gloomy 😂. All of a sudden, boom! Crypto had its best week in a very long time and coin prices literally went to the moon! 💥 

Before we jump into the headlines for this week, can we talk about how inflation in Nigeria hit 21.6%? 🤯 Everyone wants to hold the Dollar right now and fortunately, you don’t have to go too far. The Quidax Dollar Savings tool helps you to save in Dollars 😋, earn up to 10% interest, and withdraw anytime to your domiciliary account. 

Why Did Markets Go Up? 📈

The market broke its two-week losing streak with huge gains this week mainly because of the current banking crisis 👏. 

After two major tech-focused banks shut down last week, coin prices dropped 💨. However, the U.S government announced over the weekend that it would rescue both banks and protect their customers 😮‍💨. The market reacted well to this news, with crypto prices rising almost throughout the week. 

Bitcoin went as high as $26,700 🤯. While its price has cooled, investors are still excited. Could we be seeing $30,000 soon?  

NOTE: We recently relaunched our Quidax Global Community Telegram group after the old one went offline. It’s been popping so far, and there are a lot of awesome opportunities for members. 

We’d really love for every Quidaxian back in the group, so please join in here

Meta Pauses All NFT Features 😔

Just 10 months after launching them, Meta (formerly Facebook) has said that it will shut down NFT features on Instagram and Facebook ⏸️. 

Meta explained that they want to provide new ways to support creators. They mentioned that they are working on bringing crypto support to their payment service, called MetaPay 🤔. So, that’s something to look out for. 

All About USDC ⭕

The past week was a rollercoaster for USDC – one of the most popular stablecoins. The coin lost its $1 value after one of its developers revealed that they held money with Silicon Valley Bank – the tech-focused bank that shut down last week 🙈. 

USDC has since regained its $1 value, and you can read all about it here 👈. 

Cars in the Metaverse? 🚗

This week, car maker Nissan filed different trademarks for cars, cloths, and other materials that it wants to create within the metaverse too 🌐. 

We reported last week that a startup wants to help people raise plants in the metaverse 🌴. What other everyday item do you think is coming to the metaverse next? 

 

Disclaimer: All content in this article is general information and is not the opinion or perspective of any particular individual or entity. Nothing in the article is professional and/or financial advice. Evaluate all information properly before making decisions.

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