Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Tencent
Sui Price Surges on Deepened Tencent Cloud Partnership with Mysten Labs, Polkadot Faces New Challenger
The blockchain industry is witnessing a significant shift in dynamics as Sui, a pioneering Layer 1 blockchain platform, experiences a price surge following an enhanced partnership with Tencent Cloud, courtesy of Mysten Labs. This collaboration is set to revolutionize the Sui ecosystem, propelling its value to a new ATH. Amidst this evolving landscape, Polkadot faces a new challenger in the form of InQubeta, an AI-centric blockchain ICO gearing up for a significant market impact. Sui and Tencent Cloud Deepen Ties…
1 year ago
Government Policies Force Tencent to Close its NFT Platform
As fiscal policies in China continue to impede crypto growth, Chinese tech conglomerate Tencent has closed down one of its two marketplaces for digital collectibles. Monetary Laws Hinder Sales China’s long-running battle with digital currencies is common knowledge. Throughout last year the nation’s government progressively imposed measures that culminated in a blanket ban on cryptocurrencies in September. While NFTs aren’t prohibited in the same way, the regulators have made it clear that they have their reservations about them. In the…
3 years ago