Welcome again to Chain Reaction.
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It looks like there’s a pep in each crypto particular person’s step as Bitcoin had one other sturdy week, growing over 15% to round $44,000, throughout a seven-day interval, in accordance to CoinMarketCap information. Ethereum, the second largest crypto by market capitalization, additionally elevated over 15% throughout that timeframe, to round $2,300.
In common, the full crypto market cap steadily rose 14% from about $1.4 trillion to $1.6 trillion previously week as extra capital enters the crypto market.
As Bitcoin climbs, it additionally rejoins the highest 10 membership for the “top assets by market cap” globally. Bitcoin ranked in at quantity 9, trailing behind shares like Nvidia, Amazon, Google, Saudi Aramco, Microsoft, Apple and treasured metals like gold and silver, in accordance to CompaniesMarketCap information.
Bitcoin’s whole market cap is at the moment about $854 billion, which accounts for over half of the full crypto market cap.
What’s occurring in web3
- As Bitcoin reaches the $44,000 threshold, why the surge and what’s subsequent? (TC+)
- Block releases Bitkey hardware pockets to 95 nations… kinda
- Following UK growth, Robinhood brings crypto buying and selling to EU
- Sona launches its music streaming platform and market to reward followers for purchasing ‘digital twins’ of songs
- The enterprise panorama may be on the ‘cusp’ of explosive development after years of macro pressure (TC+)
The newest pod
For this week’s episode, Jacquelyn interviewed David Pakman, managing companion and head of enterprise investments at CoinFund.
Before CoinFund, David spent 14 years on the enterprise capital agency Venrock. He additionally led the Series A and B rounds at Dollar Shave Club, which was acquired by Unilever for $1 billion. And in 1991, David co-created Apple Music when he was part of Apple’s system software program product advertising and marketing group.
We mentioned the state of the crypto VC surroundings, areas he’s specializing in for investments and what he thinks buyers are lacking.
We additionally talked about:
- AI in contrast to crypto.
- Future of NFTs.
- Regulatory affect on buyers.
- 2024 outlook.
- Advice for startups.
Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favourite pod platform to sustain with the most recent episodes, and please depart us a evaluation in the event you like what you hear!
Follow the cash
- Swan Bitcoin raised $40 million to increase its institutional choices
- Money market and DeFi yield-focused Curvance raised $3.6 million in seed spherical
- Bitcoin-based mission Babylon raised $18 million to develop its staking protocol
- Ten raised $7.5 million to enhance Ethereum encryption
- Ethereum-focused scaling startup Versatus raised $2.3 million at $50 million valuation
This record was compiled with info from Messari in addition to Ztoog’s personal reporting.
What else we’re writing
Want to department out from the world of web3? Here are some articles on Ztoog that caught our consideration this week.
- Why Congruent turned down over $300M from LPs for its third local weather tech fund (TC+)
- Early impressions of Google’s Gemini aren’t nice
- Your cellular password supervisor is perhaps exposing your credentials
- Why in-house platforms can undermine your corporation technique (TC+)
- Summer’s secondary surge didn’t final, however 2024 ought to be sturdy (TC+)
Follow me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.