Altcoins Rebound Over Weekend, GALA Gains 165% YoY

Macroeconomics and financial markets

In the US NY stock market on the 9th, the Dow dropped $112 (0.3%) from the previous day.

With the US consumer price index (CPI) coming up on the 12th, it is likely that the market will take a wait-and-see approach. If the slowdown in inflation is not as strong as the market expected, there is a risk of a large drop.

Relation:Financial market tankan on the morning of the 10th | US IT and virtual currency stocks rise across the board

Virtual currency market

In the crypto asset (virtual currency) market, Bitcoin rose 0.2% from the previous day to $17,191.

BTC/USD Weekly

Over the weekend, Ethereum (ETH) rose 9.3% from the previous week, and the altcoin market rose across the board. In the crypto asset derivatives market, short positions worth 20 billion yen were cut.

Coin Glass

Among individual stocks, GALA rose 26.6% from the previous day and 165% from the previous week.

It was suggested that two films would be produced in partnership with popular Hollywood actors Dwayne Johnson (The Rock) and Mark Wahlberg.

It is expected that digital assets such as NFTs (non-fungible tokens) will be available as movie ticket purchase benefits. GALA will also function as a transaction fee (Gas fee) for Gala Films and Gala Music, which provide immersive entertainment using blockchain technology.

SOL, which had fallen to $8.3 at one point, continued to rebound, nearly doubling to the $16 level in less than two weeks.

It has been significantly underperforming for the past few months due to the bankruptcy of Alameda Research, but the meme token Bonk Coin (BONK), which was airdropped to break Alameda’s dependence and revitalize the Solana ecosystem, has soared. It has been pointed out that the Funding Rate, which was oversold, caused a short squeeze.

On the 10th, Google Cloud appointed former BlockFi executive Rishi Ramchandi as project leader to accelerate its Web3 efforts. Information has been circulated that the blockchain node engine will support Solana (SOL) next to Ethereum.

Breaking: @google hires ex- blockfi exec Rishi Ramchandi appointed as the leader of Google Cloud’s Web3 efforts. Rishi states “google blockchain node engine” was initially set up to support Ethereum, it has been moved to Solana.

— MartyParty (@martypartymusic) January 9, 2023

In November of last year, just before the bankruptcy of FTX, Google announced at Solana’s annual conference that it would support the node hosting service “Blockchain Node Engine,” and that Google Cloud would join the network as a node validator for Solana. was

Now that we got your attention… check this out: Google Cloud is running a block-producing @solana validator to participate in and validate the network.

— Google Cloud (@googlecloud) November 5, 2022

There is an observation that an entity that seems to be Google’s wallet address purchased at 1 SOL = 10 dollars, but there are also voices questioning the credibility.

Flow of digital assets

According to a weekly report from asset management firm CoinShares, institutional and accredited investor capital flows into digital assets such as cryptocurrency mutual funds have seen Bitcoin outflows of $6.5 million for the third consecutive week. , suggesting that sentiment in early 2023 remains negative.

On the other hand, XRP entered the final stage of the dispute with the US SEC (Securities and Exchange Commission) regarding its securities, and $3 million flowed in. It accounted for 9% of assets under management last week.

CoinShares

In addition, Flare Networks (FLR: formerly Spark) airdrop will be held based on the December 12, 2020 snapshot for XRP holders. Among domestic exchanges, bitbank and SBIVC announced plans to grant FLR and list.

According to Flare Networks’ token distribution rules, the number of grants this time will be limited to 15% of the XRP holdings with airdrop rights. The remaining 85% will be determined by a governance vote scheduled for January 14, 2023.

Relation:bitbank and SBIVC announce flare (FLR) handling and airdrop grant

GM radio archive release

https://t.co/nr8dNhvmzM

— CoinPost Global (@CoinPost_Global) December 22, 2022

Special guests this time are Yat Siu, chairman of Animoka Brands, a leading Web3 (decentralized web) company, and Benjamine Charbit of Darewise Entertainment. He talks about the current challenges of Web3 games and NFTs, Darewise’s first title “Life Beyond”, and the outlook for the industry.

Relation: To hold the 2nd “GM Radio”, guests are the chairman of Web3 major Animoka Brands

[Announcement]
CoinPost Hosts One of Asia’s Largest International Conferences

Date: July 25th and 26th, 2023
Venue: Tokyo International Forum

Press release https://t.co/vvgzhfPOVb

[Specified]Accepting pre-whitelist registration that can be completed in 2 seconds https://t.co/bigJoFNBvh pic.twitter.com/5FfHvqKppB

— CoinPost-virtual currency information site-[app delivery](@coin_post) December 26, 2022

Breaking: Google buys 2,800,000 $SOL at $10. Google is now the 13th largest wallet. Address: 5MfwpEF6XPBDaBBGsiEviNe8sMeF7DZCdQeC5mdrP1pt

— MartyParty (@martypartymusic) January 9, 2023

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