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☕️The Morning Cup: BTC ended five-week high last week after Tesla’s selloff; Italy PM quits to trigger snap election
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. There’s a lot going on, but don’t worry! We’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
So what happened this week?
BTC ended five-week high amid Tesla’s Bitcoin cash-out and ECB interest rate hike
Bitcoin’s price stands below $22K by press time after ending a five-week high at around $24K last Wed. Its slight retreat comes as Tesla said that it sold 75% of its holdings and the ECB raised interest rates for the first time in 11 years. Altcoins, like SOL, ADA, XRP and BNB, also retreated last Wed, slipping between nearly 5% and 9%. ETH dipped after hitting a high of above $1.6K, but JPMorgan expects that its merge with the Beacon Chain improved investor sentiment and it possibly sparked a market recovery.
Italy PM quits, triggering a snap election and making bondholders nervous
Italian Prime Minister Mario Draghi resigned last Thursday, triggering a snap national election which will be held in late September. Experts worried that the uncertainty is likely to make bondholders nervous. Italian bonds tumbled after the news, sending the 10-year yield surging 18 basis points to 3.57%, the highest since June.
Dubai’s new metaverse strategy aims to generate $4B and create 40K jobs
The Dubai Crown Prince announced a new “metaverse strategy” that will create more than 40K new jobs and add $4 billion to the economy in 5 years according to his tweet early last week. The latest announcement is in line with the city’s goal to attract more emerging technology and crypto companies.
New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
New⭐️: Ethereum Classic (ETC)
- Ethereum Classic, as its name suggests, is a blockchain similar to Ethereum. It contains the original, unaltered history of the Ethereum blockchain, and allows for developers to deploy dApps as well as issue their own tokens and NFTs atop it.
Cosmos Hub (ATOM), Hedera (HBAR), Stellar (XLM)
Algorand Perpetual (ALGO-PERP)
Polopedia
Check out our articles from this week, covering one of our newly listed projects, Bitkub Chain and Ethereum’s Beacon Chain!
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Campaigns
Our recap of past campaigns and ongoing campaigns that YOU can get involved in!
We just wrapped up our $KUB giveaway. Thank you to everyone that participated!
And to celebrate our Ethereum Classic Futures listing, we’re doing a 20,000USDT giveaway! Complete the tasks outlined in our help center for a chance to win- ETC Futures Listing Giveaway
Our Poloniex Referral Carnival is ongoing. We’re seeing a lot of news users as a result of the campaign, so a big thanks to those that have participated! What are you waiting for?? Start referring for a chance at sharing 10,000USDD!- Poloniex Referral Carnival (Phase II)
And our Poloniex Bangladeshi Monthly Campaign is going on right now! Join the Poloniex Bangladesh 🇧🇩 Community to learn more https://t.me/PoloniexBD and have the chance to win rewards!
Global Tour
Our global tour is our chance to meet our many users around the world IRL!
This week, we stopped in Bangalore, India to meet members of the crypto community, and we gotta say we definitely felt the love! Members of the community, which included project owners and influencers, got the chance to come together and discuss all things Poloniex!
👩🚀Space Traveller Program
Sign up on Poloniex using a referral code and earn a 10% rebate on your own trading fees! Get your referral code and tell your friends now: https://poloniex.com/referral/profile
Join the Poloniex Space Traveller Community: https://t.me/spacetravellerprogram and learn more.
The community megaphone📢
Highlights from the community
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And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel- https://t.me/PoloniexEnglish
Is there anything you’d want to see us cover in our newsletter? Make sure to comment on this Medium article! Just want to show your appreciation? Smash that clap button and give a round of applause👏
Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
☕️The Morning Cup: BTC ended five-week high after Tesla’s selloff; Italy faces uncertainty was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.