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There seems to be a spring in every crypto person's step, as bitcoin had another strong week, rising more than 15% to around $44,000, over a seven-day period, according to CoinMarketCap. bitcoin/” target=”_blank” rel=”noopener”>data. ethereum, the second-largest cryptocurrency by market capitalization, also rose more than 15% during that period, to around $2,300.
Overall, the total crypto market capitalization has steadily increased by 14% from around $1.4 trillion to $1.6 trillion in the past week as more capital enters the crypto market.
As bitcoin rises, it has also rejoined the top 10 “top assets by market cap” club globally. bitcoin ranked number nine, behind stocks such as Nvidia, Amazon, Google, Saudi Aramco, Microsoft, Apple and precious metals such as gold and silver, according to CompaniesMarketCap. data.
The total market capitalization of bitcoin is currently around $854 billion, which represents more than half of the total cryptocurrency market capitalization.
What is happening in web3?
- As bitcoin reaches the $44,000 threshold, what is the reason for the rise and what's next? (TC+)
- Block launches Bitkey hardware wallet to 95 countries… sort of
- Following UK Expansion, Robinhood Brings crypto Trading to EU
- Sona launches its music streaming platform and marketplace to reward fans for purchasing 'digital twins' of songs
- The business landscape may be on the “cusp” of explosive growth after years of macro stress (TC+)
The last pod
For this week episode, Jacquelyn interviewed David Pakman, Managing Partner and Head of Venture Investments at CoinFund.
Prior to CoinFund, David spent 14 years at venture capital firm Venrock. He also led the Series A and B rounds in 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 product marketing group.
We discuss the state of the crypto VC environment, the areas you are focusing on for investments, and what you think investors are missing.
We also talk about:
- ai compared to cryptocurrencies
- The future of NFTs
- Regulatory impact on investors
- outlook for 2024
- Tips for startups
Subscribe to Chain reaction in apple podcasts, Spotify or your favorite pod platform to keep up to date with the latest episodes and leave us a review if you like what you hear!
follow the money
- Swan bitcoin raised $40 million to expand its institutional offering
- Curvance, Focused on Money Market and DeFi Performance, Raised $3.6 Million in Seed Round
- bitcoin-based Babylon project raised $18 million to develop its staking protocol
- Ten raised $7.5 million to improve ethereum encryption
- ethereum-focused scaling startup Versatus raised $2.3 million at $50 million valuation
This list was compiled with information from Messari as well as TechCrunch's own reporting.
What else are we writing?
Do you want to leave the world of web3? Here are some articles on TechCrunch that caught our attention this week.
- Why Congruent Turned Down More Than $300M From LPs For Its Third Climate tech Fund (TC+)
- First impressions of Google's Gemini are not very good
- Your mobile password manager may be exposing your credentials
- Why internal platforms can undermine your business strategy (TC+)
- Secondary summer surge didn't last, but 2024 should be strong (TC+)
follow me on twitter @Jacqmelinek for breaking news on cryptocurrencies, memes and more.
