Weekly Market Review - May 26th

Weekly Market Review - May 26th

We compile the top news stories weekly within the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC & ETH updates, recent investments, developments of exciting new projects, and other relevant topics.

Here is everything you need to know from May 22nd to May 26th

📈  Weekly BTC and ETH Overview

Bitcoin’s (BTC) recent behavior resembles its price action at the beginning of the 2019 bull market. However, the consolidation within the last 7 days and rejection at the $30K resistance could head for the expected bearish target price of $25K. The Relative Strength Index (RSI) is also showing an upward trend is approaching the 50% threshold, meaning a more bullish breaking could be the more likely scenario to keep an eye out for in the coming weeks. Ethereum (ETH), on the other hand, has remained stagnant, leaving little room for interpretation and a full bearish sentiment.  

When writing, BTC is trading at $26.5K, up 1.25% in the last 24 hours. Similarly, ETH is trading at $1.82K, up 1.8% in the previous 24 hours. 

🗞️ Top Market News

  • Digital Currency Group missed a $630M payment to Genesis. Digital Currency Group is part of the recently bankrupted Genesis Global Captial group. After having missed their payment, Gemini is working with other creditors to provide forbearance to DCG to avoid the firm’s default. In total, Genesis owes Gemini $900M.  Read more here.

  • EU finance ministers approve MiCA crypto regulation. The ministers voted unanimously to adopt the bloc’s Markets in Crypto-Assets regulation. Two pieces of legislation around regulation on information accompanying transfers for funds and certain crypto assets were also adopted by the European Parliament. Read more here

🚀 New Project Developments

  • Bware Labs $INFRA token will have its primary listing on May 30th. The decentralized API infrastructure will have its primary listing next week. KuCoin, MEXC, Gate, and Bitmart will enable trading around 10:00 AM UTC. Read more here.

  • STEPN ($GMT) integrates Apple Pay for in-game purchases. The move-to-earn game integrating payment service Apple Pay as a fiat onramp for in-app purchases will allow users to purchase NFT sneakers more easily.  Read more here.

  • WorldCoin raised $115M in Series C Round. The round was led by Blockchain Capital and included other institutional investors such as a16z, BainCapital, and Distributed Global. The capital will accelerate research and development and growth efforts.  Read more here.

  • Crypto browser Opera integrates layer 1 blockchain MultiversX. Users can interact with the MultiversX network through its native tokens, NFTs, and dApps, all within the Opera browser. Read more here.

🔍 More Featured Stories

  • OpenAI raises $175M for a start-up investment fund. The company will seek to back companies that are pushing the boundaries of AI and can positively impact the world and change people’s lives for the better. Read more here.