CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News
Following a drop in price on Thursday, BTC was back in the green on Friday, as traders were preparing for the release of the non-farm payrolls report.
After adding 428,000 jobs in April, markets are expecting 325,000 jobs to be added to the U.S. economy in May.
The speculation on what this number will mean for the market has helped BTC today, with prices rising to an intraday peak of $30,633.03.
This comes less than 24-hours after some expected prices to move back towards support of $28,800, following a rise in bearish sentiment.
However, this sentiment has somewhat eased, and today’s surge in price has helped lead the 10-day and 25-day moving averages to an upwards crossover.
Despite this, it will be interesting to see if bitcoin will climb to any further highs today, due to the fact that Friday’s peak sits right at a ceiling of $30,600.
Although BTC was back in the green on Friday, the same could not be said for ETH, which moved even lower in today’s session.
Following a move below $1,900 on Thursday, ETH/USD continued to slip, and fell to an intraday low of $1,789.66 earlier today.
This is around 1.3% lower than yesterday’s peak of $1,845.31, and comes as prices continued to move close to a new support point of $1,715.
Unlike bitcoin which rose in today’s session, ETH has yet to see an upwards cross of its two moving averages, with still a fair distance between them.
Some now believe we might see a drop towards this floor $1,715, which was last hit on May 28, with bulls choosing to enter there, as the gap between the moving averages would have tightened.
As of writing, ETH is trading at $1,795, however as we get closer to the NFP release, we will likely see some more price swings.
Animoca Brands, Facebook, and the Metaverse
The Metaverse is an online virtual environment where humans can interact with other players, create content, and engage in social interactions. Entrepreneurs will drive the growth of the metaverse by offering services, content, and activities for the metaworld. To make the most of the opportunity, they must monetize their services in an effective and efficient way. For instance, non-fungible tokens can be used to own an hour’s worth of movie sessions. Alternatively, they can be used as passes for events and for travel to another planet.
Animoca Brands has grown to over 600 employees with a presence in 14 international markets. As of 2021, Animoca Brands was profitable, with $141 million in bookings and $530 million in revenue. In November 2021, its digital assets were worth $15.9 billion. Foreseeably, the Metaverse will soon be a $21.7 trillion market. Cryptocurrencies, mixed-reality technologies, and artificial intelligence will be key components of the ecosystem.
Zuckerberg believes that the Metaverse is the next mobile internet, a digital world where users can create their own realities. Facebook has reportedly already announced that it will invest $10 billion in the Metaverse this year. Interestingly, other prominent figures in the crypto space have shared similar views. One of them is Raoul Pal, a former hedge fund manager and outspoken crypto enthusiast. He believes the Metaverse is the future of virtual reality and hopes the world will move there.