CryptoWatch brings you the round-up of the top news from the cryptocurrency industry from last week, centering on the massive performance of Bitcoin, with many foreseeing this rise as its bearish growth in the market. It also goes alongside the new platform known as the Starbucks Oddysey from its founder, and the new regulatory offices from the SEC.
Bitcoin Rallies in the Market Above $22k
Bitcoin started the past week with a bang as it finally picks up the pace and rises to the occasion with its valuation seeing significant traction and increasing to larger heights. Last week saw a massive shift from its staggering price up to $22,000 and even up to $23,000 at its highest point, which fans and experts perceived to be its climb back to a higher market value.
Investors and fans of the top crypto saw this as Bitcoin's bearish behavior in the market, as it finally gets the break it needs to rise from the ashes of its massive bullish trends in early 2022.
However, its weekend valuation now sees a massive drop from $22,000, to $19,000 valuation, playing around in this range. According to CoinMarketCap's data, Bitcoin saw a 10 percent drop over the past seven days, marking its graph red.
Starbucks Oddysey: Coffees and NFTs
Coffees and NFTs are something that comes together, especially for traders who meet in public places to talk about their art and tokens to potential buyers or investors. But this is not the case for Starbucks Oddysey, a new platform from its top executive's return, Howard Schultz, which centers on the Polygon blockchain.
The company is brewing a next-level experience with the new platform centering on Web3, a place where baristas and customers may get together and share insights. The company is also centering its Starbucks Rewards and Loyalty experience with the NFT stamps, as well as tokens that they may receive in the process of buying drinks from the company.
Instead of getting only one's daily dose of caffeine from the company, they would get more via its Oddysey for the blockchain industry.
SEC's New Offices for Crypto
The SEC is setting up new shops for the cryptocurrency industry in the country, with the two offices centering on the Office of Crypto Assets and an Office of Industrial Applications and Services. These new offices would focus on deliberating new cryptocurrency filings which aim to break ground in the industry, as it sets up shop here in the US.
The goal is to protect investors and the public from their engagements and businesses directed toward the crypto industry, with its focus centering on new regulations for the blockchain.
These new offices would help in regulating the blockchain industry in the US and help in verifying legitimate cryptocurrencies present now, helping those engaged in the trade for future incidents or issues.
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Written by Isaiah Richard
