Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,070 trillion. Bitcoin is down by nearly 2% after intense seesawing this week. Ethereum increased by almost 2% over the past seven days. XRP lost more than 1% in value this week. Almost all altcoins are trading in the red, with a few exceptions. The DeFi sector decreased the total value of protocols (TVL)…
Tencent
Government Policies Force Tencent to Close its NFT Platform
As fiscal policies in China continue to impede crypto growth, Chinese tech conglomerate Tencent has closed down one of its two marketplaces for digital collectibles. Monetary Laws Hinder Sales China’s long-running battle with digital currencies is common knowledge. Throughout last year the nation’s government progressively imposed measures that culminated in a blanket ban on cryptocurrencies in September. While NFTs aren’t prohibited in the same way, the regulators have made it clear that they have their reservations about them. In the…
7 months ago 651 views