60th Edition

This week in The Flippening, TL;DR

• One of the oldest stock exchanges getting serious about crypto
• IPO time for this Bitcoin ATM company
• Bull case for Ethereum as NFT Marketplace integrates with scaling solution

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🔊 Top Highlights of the Week

NASDAQ launches crypto custody service for institutional clients

NASDAQ figured that it couldn't stay out of the party any longer! To address the interest of institutional clients looking for access to cryptocurrencies, the latest participant in the market introduces a cryptocurrency custody service.

The new division, Nasdaq Digital Assets, will initially exclusively hold custody of Bitcoin and Ethereum. Nasdaq's chief of North American markets stated: "demand among institutional investors for engaging in digital assets has increased in recent years, and Nasdaq is well-positioned to accelerate broader adoption and drive sustainable growth."

Bitcoin Depot plans to go public; will use funds to acquire more market share

Bitcoin Depot, CoinCloud, and CoinFlip are three of the largest Bitcoin ATM companies. They collectively control over 40% of the entire market share. With a formal announcement published on its website, Binance discloses that it will allow the direct sale of cryptocurrency for 11 different fiat currencies. Users can sell their crypto and convert it to their fiat currencies.‍

OpenSea integrates with Ethereum scaling solution, Arbitrum

Remember the super famous NFT marketplace, OpenSea? Well, it had its fair share of limelight. However, the marketplace kept witnessing declining daily volumes this year. The story was similar story for all its peers.

OpenSea knew it had to come up with something to bring back its charm. The NFT marketplace now integrates with one of Ethereum's largest scaling solutions, Arbitrum. Following the integration, Arbitrum has now joined four existing networks on the NFT marketplace: Ethereum, Solana, Polygon, and Klaytn.

Other Highlights:

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It remained yet another bearish week for the cryptocurrency market. The Ethereum Merge's excitement seems to diminish as ETH slips below the $1300 mark, yet again. Although, XRP had a totally different story from the rest as it shot up almost 46%.

On a sectoral level, we witnessed Smart Contracts dropping the most after ETH failed to hold its limelight. The rest of the sectors witnessed minor bearishness. The announcement from the FED regarding a 75bps rate hike didn't help the situation. However, it is a good time to stay in the market as it allows good projects to flourish and also throws away the not-so-good projects.

Coin of the week

Ripple: $XRP

It has been one crazy week for one of the long-time crypto biggies, XRP. Ripple Labs, the issuer and creator of the XRP token, files to court to dismiss the case on it by SEC, without any trial. Just this step caused more than a 46% jump in the price of XRP.

Technicals suggest that XRP could still have some firepower left to turn heads.‍

Crypto quiz of the week

We all know about domain names such as google.com, amazon.com, etc. Similarly, ENS domains are extremely popular among Web3 circles.

One of the most iconic ENS domain names, beer.eth, is owned by which entity/group?

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Answer- Crypto quiz of the week: Budweiser

Here we are, at the end of our 60th edition. We hope you liked reading it. The team would love to hear back from you.

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