{"id":11168,"date":"2022-05-28T21:08:11","date_gmt":"2022-05-28T21:08:11","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/jpmorgan-sees-higher-btc-price-potential-a16z-unveils-4-5-billion-crypto-fund-and-paypal-hints-at-more-crypto-and-blockchain-involvement-hodlers-digest-may-22-28\/"},"modified":"2022-05-28T21:08:24","modified_gmt":"2022-05-28T21:08:24","slug":"jpmorgan-sees-higher-btc-price-potential-a16z-unveils-4-5-billion-crypto-fund-and-paypal-hints-at-more-crypto-and-blockchain-involvement-hodlers-digest-may-22-28","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/jpmorgan-sees-higher-btc-price-potential-a16z-unveils-4-5-billion-crypto-fund-and-paypal-hints-at-more-crypto-and-blockchain-involvement-hodlers-digest-may-22-28\/","title":{"rendered":"JPMorgan sees higher BTC price potential, a16z unveils $4.5 billion crypto fund, and PayPal hints at more crypto and blockchain involvement: Hodler\u2019s Digest, May 22-28"},"content":{"rendered":"
Coming every Saturday, <\/i><\/b>Hodler\u2019s Digest<\/i><\/b> will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more \u2014 a week on Cointelegraph in one link.<\/i><\/b><\/p>\n\nTop Stories This Week<\/b><\/h2>\n\n
Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil<\/b>
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Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind and more than double the amount of its third crypto investment fund. With $3 billion earmarked for venture investments and $1.5 billion for early-seed projects, the fund will look to invest in companies at various stages in their life cycle. Andreessen\u2019s new fund provides a strong indicator that venture capital interest in the crypto market remains high despite evidence of a brutal bear market.<\/span><\/p>\n\n A client-focused note from JPMorgan this week detailed the banking giant\u2019s thoughts on Bitcoin, claiming $38,000 as the asset\u2019s fair value. The seemingly bullish outlook came on the heels of depressed price action for Bitcoin, which has been rangebound below $30,000. But even in February, when BTC was valued at $43,000, JPMorgan strategists said that $38,000 was fair market value. This week\u2019s client note from JPMorgan also pointed to the possibility of positive price action for the entire crypto space \u2014 provided venture capital investment doesn\u2019t waver. <\/span><\/p>\n\n Per comments from vice president Richard Nash, PayPal has its sights set on giving its platform more blockchain and crypto influence. \u201cJust walking slowly in the crypto shield with buy\/sell\/hold in certain jurisdictions,\u201d Nash told Cointelegraph at the World Economic Forum (WEF) in Davos, Switzerland. \u201cAnd then looking to work with others to embrace everything we can, whether it\u2019d be the coins that we have today in PayPal digital wallets, private digital currencies or CBDCs in the future.\u201d<\/span><\/p>\n With time ticking down until GameStop\u2019s NFT marketplace launch, the company has unveiled the beta version of an Ethereum-based wallet. The self-custody crypto and NFT storage solution is called the GameStop Wallet. The browser-based wallet will go hand-in-hand with the company\u2019s future NFT marketplace. GameStop is also developing a mobile app version of the wallet.<\/span><\/p>\n\n Korea\u2019s Financial Supervisory Service (FSS) is working to standardize its evaluation of digital asset risks in the wake of the Terra ecosystem collapse. While the FSS\u2019s standardization efforts have only just begun, they are expected to lead to a legal framework for evaluating digital assets. Meanwhile, Terraform Labs CEO Do Kwon is moving ahead with an ecosystem recovery plan, having gained majority support from his community. The Terra 2.0 ecosystem went live on Friday with a new blockchain and crypto asset. <\/span><\/p>\n\n <\/span><\/p>\n At the end of the week, Bitcoin (<\/span>BTC<\/span>) is at <\/span>$28,449<\/b>, Ether (<\/span>ETH<\/span>) at <\/span>$1,729<\/b> and <\/span>XRP<\/span> at <\/span>$0.37<\/b>. The total market cap is at <\/span>$1.17<\/b> trillion, <\/span>according<\/span> to CoinMarketCap.<\/span><\/p>\n Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are BORA <\/span>(BORA)<\/b> at 18.15%, Bitcoin Gold <\/span>(BTG)<\/b> at 17.79% and Ethereum Classic <\/span>(ETC)<\/b> at 11.09%.\u00a0<\/span><\/p>\n The top three altcoin losers of the week are TerraClassicUSD <\/span>(USTC)<\/b> at -46.13%, STEPN <\/span>(GMT)<\/b> at -27.38% and Elrond <\/span>(EGLD)<\/b> at -25.70%.<\/span><\/p>\n For more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis.<\/span><\/p>\n \u201cDecentralization truly puts more control and power back into the people\u2019s hands where it belongs.\u201d<\/span><\/p>\n<\/blockquote>\n Sonali Giovino<\/b>, head of communications for Defiyield<\/b><\/p>\n \u201cProjects must watch the interests of their community and users because, in the end, that\u2019s the most valuable thing you have.\u201d<\/span><\/p>\n<\/blockquote>\n Nicky Chalabi<\/b>, ecosystem success and enablement professional at Near Foundation<\/b><\/p>\n \u201cA lot of the policy and regulatory issues that limit the power of moving money have to do with stripping people of their economic freedoms.\u201d<\/span><\/p>\n<\/blockquote>\n Jeremy Allaire<\/b>, CEO of Circle<\/b><\/p>\n \u201cIn TradiFi people are thinking, \u2018I don\u2019t want to lose money \u2014 how can you help me keep my wealth regardless of markets?\u2019 So, it\u2019s very risk-management orientated. While in DeFi, the degens are like, \u2018Gimme those triple-digit yields, woo!\u2019\u201d<\/span><\/p>\n<\/blockquote>\n Alexander Fazel<\/b>, chief partnership officer for SwissBorg<\/b><\/p>\n \u201cThe rise of the term \u2018Web3\u2019 is encouraging because it means that people are seeing this underlying technology feed into different applications \u2014 the ones they didn\u2019t necessarily expect.\u201d<\/span><\/p>\n<\/blockquote>\n Gavin Wood<\/b>, co-founder of Polkadot and Ethereum<\/b><\/p>\n \u201cThere\u2019s absolutely no reason that a deed to a house couldn\u2019t be a unique digital asset as long as that asset is created and stored in the correct way.\u201d<\/span><\/p>\n<\/blockquote>\n Alex Altman<\/b>, chief operating officer of Seal Storage Technology<\/b><\/p>\n Bitcoin\u2019s price has continued to struggle in recent days, often trading below $30,000, according to <\/span>Cointelegraph\u2019s BTC price index<\/span>. However, the asset could still fall considerably further, according to <\/span>Rekt Capital<\/span>.\u00a0<\/span><\/p>\n Over the course of Bitcoin\u2019s history, the asset\u2019s price has respected the 200-week moving average (200WMA). \u201c#BTC tends to wick -14% to -28% below the 200-MA,\u201d Rekt Capital detailed as part of a thread on Twitter. \u201cAnd since the $BTC 200-MA now represents the price point of ~$22000\u2026 A -14% downside wick below the 200-MA would result in a ~$19000 Bitcoin,\u201d they added. \u201cAnd if #BTC were to repeat the March 2020 downside wicking depth below the 200-MA $BTC would revisit the ~$15500 price point.\u201d<\/span><\/p>\n Did you watch a video of Tesla CEO Elon Musk advertising 30% gains via deposits on a crypto platform? Be warned that the video is a scam. Classified as a deepfake, the video was doctored to look real but is not, as verified by a Twitter comment from Musk himself. The video harnesses real footage of Musk doing a TED Talk earlier in 2022, altered to deceive viewers into a scam. Deepfakes are nothing new, however. This recent effort utilizes Musk\u2019s fame in tandem with his known crypto involvement.<\/span><\/p>\n The last two years have resulted in a 3,894% uptick in crypto-related spam, according to recent data from LunarCrush, a crypto intelligence outfit. One aspect making detection difficult: The undesirable action is not all bot related, with a surprising amount coming from humans. Twitter is a hotbed for spam, based on the LunarCrush data.<\/span><\/p>\n A hacker or group of hackers recently took over the Twitter account of Mike Winkelmann, a.k.a. Beeple. The hacker(s) that commandeered the well-known NFT artist\u2019s account posted phishing scam tweets, angling the scam around Beeple\u2019s recent collaboration with Louis Vuitton. Although Beeple managed to take back control of his Twitter account, the phishing effort pilfered roughly $438,000 worth of Ether and NFTs from victims.<\/span><\/p>\n \u201cThree years and BOOM, you can be anything you want \u2014 a famous musician, a billionaire. It doesn\u2019t matter what you want to do, anything can be done with the right mindset.\u201d<\/span><\/p>\n \u201cIt\u2019s almost like the whole idea of a decentralized, distributed model is exactly what worked in terms of how we operated and deployed the system.\u201d<\/span><\/p>\n The collapse of algorithmic stablecoin UST created a ripple effect for the broader crypto market and put regulators on extremely high alert.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Coming every Saturday, Hodler\u2019s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more \u2014 a week on Cointelegraph in one link. Top Stories This Week Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil […]<\/p>\n","protected":false},"author":1,"featured_media":11169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-11168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\nJPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset<\/b><\/h4>\n
WEF 2022: PayPal looks to embrace all possible crypto and blockchain services<\/b>
<\/h4>\nGameStop unveils beta cryptocurrency wallet and upcoming NFT platform<\/b><\/h4>\n
Korean watchdog begins risk assessment of crypto as Terra 2.0 passes vote<\/b><\/h4>\n
Winners and Losers<\/b><\/h2>\n
Most Memorable Quotations<\/b><\/h2>\n
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Prediction of the Week\u00a0<\/b><\/h2>\n
Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level<\/b><\/h4>\n
FUD of the Week\u00a0<\/b><\/h2>\n
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\u2018Yikes!\u2019 Elon Musk warns users against latest deepfake crypto scam<\/b><\/h4>\n
Crypto spam increases 4,000% in two years \u2014 LunarCrush<\/b>
<\/h4>\nTargeted phishing scam nets $438K in crypto and NFTs from hacked Beeple account<\/b><\/h4>\n
Best Cointelegraph Features<\/b><\/h2>\n
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The Moon \u2018created\u2019 his lavish reality\u2026 and says you can, too<\/b><\/h3>\n
Crypto is changing how humanitarian agencies deliver aid and services<\/b><\/h3>\n
How Terra\u2019s collapse will impact future stablecoin regulations<\/b><\/h3>\n