This Week In Crypto: Major Cryptocurrencies Climb

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This Week In Crypto: Major Cryptocurrencies Climb

TipRanks2022-10-02

Story HighlightsMajor coins zig-zagged between weekly highs and lows during an especially volatile week before a decision by the Bank of England to restore quantitative easing and a U.S. dollar sell-...

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Typhus
·2022-10-02
Nice
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LEESIMON
·2022-10-02
ok
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Zivcheah
·2022-10-02
O
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1
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- Zivcheah:
  O
  2022-10-02
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AlanChong
·2022-10-02
Ok
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3
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- yonglh:
  Ok
  2022-10-03
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- Pandachubby:
  Ok
  2022-10-02
  Reply
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Tj23
·2022-10-02
Wow
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4
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BlueDragon
·2022-10-02
Ok
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6
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- AlanChong:
  Ok
  2022-10-02
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Wlonggy
·2022-10-02
Ok
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5
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- ToTheM00N:
  Ok
  2022-10-02
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- Dirui:
  K
  2022-10-02
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Wlonggy
·2022-10-02
like and comment pleasd
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7
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- Wlonggy:
  Thank you
  2022-10-02
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ryanoon
·2022-10-02
Please like
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6
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- YH999:
  ok
  2022-10-02
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Bodoh
·2022-10-02
Sharp rally hahaha
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- gunsonfire:
  Ok
  2022-10-02
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- RoronoaZH:
  Yup
  2022-10-02
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WilKoh
·2022-10-02
Okay
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4
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Bodoh
·2022-10-02
Climb? Sideways at best. Living in fantasy world is helpful
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- Tj23:
  Yes
  2022-10-02
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JozzoL
·2022-10-02
[Strong]
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3
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LGC1956
·2022-10-02
Ok
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- LGC1956:
  Ok
  2022-10-02
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Gunners80
·2022-10-02
Ol
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- ryanoon:
  Good
  2022-10-02
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Alex1709
·2022-10-02
Ok
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Roticanai
·2022-10-02
Like
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- WilKoh:
  Okay
  2022-10-02
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- newbie83:
  kk
  2022-10-02
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A big reason behind the move is ChainLink’s work with SWIFT to improve cross-chain interoperability and develop a token infrastructure for the international payment network.This new development, combined with fresh efforts to spur ecosystem growth and staking plans, helped LINK token rally 11.9%. Another major outperformer over the week was DeFi protocol Maker, with MKR governance tokens climbing 13.9%.Miners Flee Ravencoin, Mashinksy Quits CelsiusAs former Ethereum miners sought opportunities in other proof-of-work tokens, they quickly saw fortunes crumble before their eyes as mining rewards fell through the floor. Among the hardest hit tokens was Ravencoin (RVN), a proof-of-work token that attracted miners after the exodus from Ethereum (ETH-USD). Ravencoin was one of the biggest underperformers of proof-of-work blockchains and top 100 tokens by market capitalization, slumping 8.1% week-over-week.Meanwhile, now months into the Celsius Network (CEL) saga that saw investors blocked from withdrawing funds, embattled CEO Alex Mashinsky submitted his resignation on September 27th as the company undergoes Chapter 11 bankruptcy proceedings. Although CEL token has recovered from its June lows, CEL fell 10% over the last seven sessions as creditors remain anxious to recover their lost funds and a court-appointed examiner reviews the company’s financials.Do Kwon Dominates News, Walmart in the Metaverse, & MoreThis week’s main headlines surrounded South Korea’s efforts to arrest Do Kwon, the embattled founder of Terraform Labs associated with the $60 billion LUNA meltdown. Interpol has issued a Red Notice to extradite Kwon to Korea to face charges. Although Kwon has responded via Twitter (NYSE: TWTR) that he isn’t hiding, authorities have yet to determine his whereabouts. In the meantime, South Korea has attempted to freeze Bitcoin worth $67 million held at OKX and KuCoin they believe are associated with Kwon.In Web3 adoption news, Walmart (NYSE: WMT) has become the latest retailer to enter the Metaverse. The big-box retailer launched Walmart’s Universe of Play and Walmart Land on blockchain-based gaming gateway Roblox (NYSE: RBLX). The two virtual projects will offer a range of Metaverse experiences, including live music performances, virtual dressing rooms, and opportunities to buy virtual merchandise by participating in different games and exploration activities.Finally, Christie’s is also jumping on the Web3 bandwagon. Following its success in auctioning Beeple’s NFT for $69.3 million in 2021, the famed auction house has launched Christie’s 3.0, an Ethereum-based NFT marketplace. 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