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Ewpple - Crypto Market Insight Apr 2022
- A combination of historically high inflation and geopolitical uncertainty has led the Federal Reserve to raise interest rates.
- As a result, Bitcoin and the broader cryptocurrency market have suffered.
- The digital asset space is feeling the same pinch as stocks. Bitcoin (BTC) and Ether (ETH) are highly correlated to the tech stocks & Nasdaq-100.
- A rise in NFT sales and OpenSea's volume surging above $1.3 billion in the last week suggests that the NFT bull market might be returning.
- According to the BIS, central banks should play a pivotal role in regulating cryptocurrency and emerging digital economies.
- Blackrock and Fidelity join forces to invest in the $400M Funding Round of Circle, a major crypto P2P payment firm and the company behind UDC Coin (USDC).
- Many millennial millionaires' main assets are digital. But most millionaires of older generations continue to treat cryptocurrencies cautiously or even negatively.
- In Nigeria, crypto ownership is boosted by a lack of financial services, says the report.
- The main reason investors across the globe invest in crypto is to counter rising fiat inflation.
1 week return for Ewpple Crypto Index Fund (EWF): +1%
1 week return for S&P Crypto LargeCap Index: +1.3%
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