We compile the top news stories weekly from the crypto, blockchain, metaverse, and NFT space. The weekly wrap-up covers everything from BTC and ETH updates to recent investments, developments of exciting new projects, and other relevant topics.
Here is everything you need to know for the week of May 13th to 17th.
📈 Weekly BTC and ETH Overview
The market is slowly gaining momentum again after the downward trends shortly following the halving. Given the positive spot Bitcoin ETF results of the last week and movement across multiple projects within the space, Bitcoin broke through the $60K support level, reaching $66K at the end of this week. On the other hand, Ethereum is trading around the $3K level, which is located near the $2.8K support zone. At the time of writing, BTC is trading at $66.3K, up 0.19% in the last 24 hours. Similarly, ETH is trading at $3.03K, up 0.93% in the previous 24 hours.
🗞️ Top Market News
- The 11 spot bitcoin ETFs in the U.S. reached a daily net inflow of $257.34M. With this, Morgan Stanley has over $270M in U.S. Spot Bitcoin ETF holdings, and Millenium Management also disclosed $1.94B in shares across the five Bitcoin funds. Read more here
🚀 New Project Developments
- Cross The Ages raises $3.5M in an equity round led by Animoca Brands. Investors in the round include Sebastien Borget and Nicolas Jeuffrain. The fundraising announcement was announced alongside the TGE, listed on several major exchanges, including Bybit, KuCoin, Gate, and MEXC listing the token. Read more here
- zkLink partners with LogX to bring perps to zkLink Nova. This launches the Intract campaign with x2 boost for trading, x1.5 on liquidity provision on Nova Points, and LOGX rewards on zkLink Nova L3. Read more here
- OKX Wallet collaborated with Ultiverse to launch Cryptopedia Season 17. The season will be live until May 20th, and participants will be able to complete tasks and win from a pool of Ultiverse tokens. Read more here
🔍 More Featured Stories
- Mastercard picks five startups to develop blockchain use cases. The program connects Mastercard with industry experts and fintech firms to solve different issues and create use cases with blockchain technology. Read more here
Related Market Updates
Market Updates: Apr 22 - Apr 26
One week after the halving, Bitcoin has failed to continue on its $75K rally and has seen the price fall to 5% in the past week. Based on market conditions, analysts say the price could fall below $52K in the upcoming weeks or break through the $72K mark, indicating a move toward the anticipated all-time high of $120K.