Crypto weekly roundup, 23rd – 29th May!

Oliver Moon at Team UMushroom

30 May 2022

A pretty bland week by crypto standards at the moment, but some very positive news for the wider crypto outreach!!

Another stable week and another steady decline. The overall market cap closed the week around 3.8% down. However, it has continued to flatten out after a month of heavy losses.
For the top 10 coins by market cap, it was another week of losses all round. Solana, Ethereum and Cardano’s prices all dropped by over 10%. Bitcoin finished the week under $30,000.

A Federal Reserve study found that 12% of US adults held crypto in 2021.
Balenciaga announced they will be accepting Ethereum and Bitcoin as a form of payment online and in selected stores.
- This follows Gucci announcing they would accept several cryptocurrencies as payment earlier this month.
Crypto venture capital firms are continuing to enter the emerging markets.
- Crypto Valley Venture Capital (CV VC) is launching an Africa focused fund that aims to raise between $10 and $50 million capital.
- Old Fashioned Research (OFR) have created a $100 million venture fund with a partial focus on bringing crypto adoption to the emerging markets.
TERRA 2.0 has been launched as Kwon's revitalisation plan passed with a strong majority.
- Do Kwon’s revitalisation plan passed the stakeholder vote last week.
- Block production has begun on the new Terra chain and continued on Terra classic.
- Terra Classic was relisted on the 30th on most centralised exchanges and Terra will be open for trading in the coming days.