The R Roundup: Ronaldo X Binance — Issue #42
Previously we expressed how Binance made it clear that through the bull market they were prepared to turn down a range of marketing proposals that other platforms and exchanges had taken up. This could be concluded in preparation for the inevitable crypto winter, or it could be a masterstroke from CZ to battle adoption during these conditions.
The latest to join Binance in their journey to adoption is a five-time Ballon D’or winner and one of the world’s best footballers Cristiano Ronaldo who teamed up with Binance over an exclusive multi-year partnership.
The aim of the partnership is to provide a “one-of-a-kind experience for football fans worldwide, with a series of NFT collections…”
Ultimately, Binance is attempting to take the sporting ‘fandom experience to unprecedented levels’ which is represented through securing the highest level players to join them on their journey.
Solana Mobile Coming Soon📞☀️
There is no doubt that with price visiting cycle lows, there is a clear division between projects aiming to innovate and projects that disappear. In this case, we can see Solana devs taking the next step to drive their project through innovative products.
This week, Solana Labs is launching a subsidiary that has adopted the mission to develop mobile apps, which coincided with the Solana devs conclusion to build a crypto-native phone.
Solana Labs CEO Anatoly Yakovenko unveiled the android phone which is named Saga as seen in the photo above.
The unique nature of the phone is set for web3 products which range from an NFT marketplace to decentralised trading products.
On-Chain Update⛓: 2022 Sees Low $BTC Trade Volume🔇
Following the parabolic nature of 2021, many crypto investors were diving deep into assets expecting 2022 to follow suit which unfortunately hasn’t been the case.
Looking at data on-chain can often assist in helping understand what may be contributing to the overall sentiment and price action.
Using $BTC/USDT pairs on Binance, Bitfinex, Bitstamp, Kraken, Okex, FTX, Huobi & Coinbase, the average $BTC trade volume on a weekday basis has come right back down to what looks like an average between 2020 and 2021.
With heights of almost over 240b+ in 2021, there is no doubt that the trading volume on $BTC indicates the downturn in price we have seen.
SBF Bails Out BlockFi With $250m USD 💸
Following on from the liquidations at 3AC the inevitable reality was that projects were on the receiving end of having to make some brutal decisions due to the magnitude of capital loss.
Crypto lenders BlockFi announced that they were struggling to close rounds of Venture Funding leading to having to cut down valuations in order to appeal to investors.
In an attempt to “save the day” dominating crypto exchange FTX and CEO Sam Bankman-Fried, provided BlockFi with a $250m USD credit facility which is said to ‘bolster’ the BlockFi balance sheets and ‘platform strength’.
SBF also tweeted the following:
Price Update🏷: $BTC, ETH, $BNB, $XRP
Small rallies across the market this week following the brutality many faced in the past month have injected slight euphoria amongst investors while the majority remain wary of further downside.
As a reminder this is not a trading signal nor is it investment advice, it is an opinion and each trader/investor should know and understand the risks attached to trading cryptocurrencies. At no point should this be regarded as financial advice, feel free to familiarise yourself with our NFA disclaimer.
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