Crypto's surprising signs of strength
Coachella, the U.S.’s top music festival, is auctioning 10 lifetime-pass NFTs that also include exclusive perks for this year’s fest. [Ilja Van Rijswijk via Getty Images]
There’s never a dull moment on the blockchain. Here’s what you need to know this week:
The Ukraine crisis is pressuring crypto markets. But as prices struggle, crypto shows other key signs of strength.
Music’s biggest names are exploring NFTs. From Coachella to Snoop Dogg, the music biz is having (another) NFT moment.
The week in numbers. The amount a DAO is trying to raise to buy the Denver Broncos, and other key stats to know this week.
Crypto shows key signs of strength, even as prices struggle amid geopolitical turmoil
Ever-escalating tensions in Ukraine and unanswered about the Fed’s plan to raise interest rates continue to pressure global markets and crypto prices this week — the S&P 500 entered as BTC dropped below $37,000 on Monday, shedding roughly 5% since Sunday. But for the broader cryptoeconomy, prices are only part of the story, and the news — surprisingly — isn’t all bad. Despite troubling geopolitical headlines, the crypto market has quietly notched a handful of wins over the last few weeks, from rising global adoption to Wall Street’s ever-growing appetite for crypto. Let’s dig in.