Looking at the last week, a lot has happened in the world of cryptocurrency. For starters, Bitcoin witnessed a huge growth in its performance in the market. Many observers believed this to be a signal of diminishing market growth. Last week also saw the arrival of Starbucks Odyssey – a new blockchain-powered loyalty program for both Starbucks customers and employees. Furthermore, there is news that the US SEC (Securities and Exchange Commission) will set up two new offices for filings related to crypto.
Bitcoin pushes through $22k
Despite apparent setbacks, Bitcoin’s value has climbed to greater heights over the last week as it caught up to the speed and faced the problem. During the past week, its astounding price rose to $22,000 and got up to $23,000 at its peak. This is what experts interpreted as its return to an elevated value in the market.
Traders and followers of Bitcoin saw it as strange behavior as it obtains the rest it needs to ascent from the remnants of its huge up-trends at the start of this year.
Weekend valuations have dropped from $22k to $19k & are now range bound. The chart of Bitcoin shows that it has declined by 10% over the past week, according to CoinMarketCap data.
Starbucks Odyssey: Combining Coffee & Blockchain
The popular caffeine beverage and NFTs make a great combination for traders who discuss ideas in public. They discuss their craft and badges with potential buyers or investors. Starbucks Odyssey, the recent digital system from Howard Schultz, is based on the Polygon blockchain and is focused on the return of its top executive.
With the newly developed platform based on Web3, the company is bringing like-minded people together to share insights. Additionally, Starbucks Prizes emphasize the NFT imprint and badges customers could get from them upon buying their offerings.
In addition to the regular dosage of caffeine, they’d learn more about the company’s blockchain journey.
The new crypto offices of the SEC
The U.S. Securities & Exchange Commission is setting up a new branch for the domestic cryptocurrency industry. There will be a couple of offices concerning the crypto-assets office and the commercial service office. Based here in the United States, the offices are focused on making recommendations on new crypto inquiries with the objective of reaching new heights in the financial market.
This will focus on new blockchain regulations to protect stakeholders and shareholders from engaging in and trading against the cryptocurrency industry.
The workplaces will aid in balancing the U.S. blockchain industry, scrutinize legitimate cryptocurrencies in existence today, and help those involved in buying and selling digital assets with future cases and issues.