Weekly-Crypto-Market-News-Round-Up
  • McDonald’s China Creates Its Own NFT Despite China Crypto Ban
  • Axie Infinity Reaches 2m Players Amid AXS Price Surge and More

The crypto space is slowly getting better as days go by. In fact, it is seen that the crypto space has been pumping its market cap in the past few days. At the time of writing, the market cap of the entire crypto market amounts to over $2.4 trillion with a 24-hour growth rate of almost +1%. 

The surge of Bitcoin is also one of the hottest topics in the crypto space in the past few days. This is because of its amazing performance that leads its position to trade above the bullish price of $50K. Indeed, this great performance of BTC brings joy to the crypto community. 

With all these achievements of the crypto world, aren’t you curious about what is happening in the crypto world? In this CryptoNewsLand article we will discuss most of the highlights that happened in the crypto world in the past seven days.

Without further ado, here is the hottest news in the crypto world that you might have missed this week.

McDonald’s China Releases Big Mac Cube NFT Amid China Crypto Ban

McDonald’s, one of the world’s most famous and biggest fast-food chains in the world, enters the world of NFT. To be specific, In celebration of its 31st anniversary, McDonald’s China released its first NFT creative design called the Big Mac Rubik’s Cube. The Big Mac Cube NFT is a three-dimensional dynamic digital creative work inspired by the brand spirit of McDonald’s.

Zhang Jiayin, CEO of McDonald’s China, explained:

“McDonald’s is a young and trendy brand that has always paid attention to fashion trends and cutting-edge technology. I am very happy that McDonald’s has become the first domestic restaurant brand to release NFT.”

Zhang added that NFT helps McDonald’s to share its innovation with its employees and customers. “ McDonald’s China’s new headquarters building is a brand new development of McDonald’s China. Milestones. At this special moment, we use the form of NFT to share McDonald’s innovation, digitalization, and trend art with employees and consumers, she said.”

Regardless, McDonald’s China was able to release its NFT creation in China despite the bitter approach of the country in cryptocurrency. Through this, we can say that no matter what happens, the crypto space will stand strong and walk tall against all odds. 

Bitcoin Miners Begin Accumulating BTC, Sparks New Bullrun

In lieu of Bitcoin breaking its $48,000 resistance point and soaring up beyond $50,000, the crypto and Bitcoin community seems to be joyously back on track. One example of this new firepower is the fact that Bitcoin miners are back to accumulating Bitcoin.

As we can see from the image attached to this tweet from Twitter user Tamil Crypto School, Bitcoin miners have begun to accumulate Bitcoin after a long period of selling the asset. From the chart, we can see that after weeks of selling, the miners’ net position has changed to green.

This is a fantastic sign for the crypto world. After months of crypto analysts and seasoned Bitcoin traders saying that Bitcoin will rally in Q4, it seems the time has finally come. Many have been saying that Bitcoin will hit $100,000 by the end of 2021.

As we can see from the image attached to this tweet from Twitter user Tamil Crypto School, Bitcoin miners have begun to accumulate Bitcoin after a long period of selling the asset. From the chart, we can see that after weeks of selling, the miners’ net position has changed to green.

This is a fantastic sign for the crypto world. After months of crypto analysts and seasoned Bitcoin traders saying that Bitcoin will rally in Q4, it seems the time has finally come. Many have been saying that Bitcoin will hit $100,000 by the end of 2021.

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Bitcoin Analyst — Lark Davis, Says Bitcoin Will Hit $200K

As the price of Bitcoin soars back up and breaks beyond its $48,000 resistance point, the crypto community rejoices. At the time of writing, Bitcoin has surpassed the $49,000 mark and is racing towards $50,000 and beyond. 

Many analysts over the past quarter have been preaching about Bitcoin hitting $100,000 by the end of 2021. In fact, many are certain that this is inevitable. Thus, seasoned analysts and crypto traders are not surprised by Bitcoin’s latest rally. 

In particular, one Bitcoin investor and analyst — Lark Davis, believes that with the new resistance breakthrough $100,000 isn’t even close to the next ATH. According to one of his tweets, Lark says that the next big ATH will be between $180,000 to $200,000. 

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NFT Gaming Craze Axie Infinity Reaches 2M Players Amid AXS Price Surge

Popular NFT game Axie Infinity recently surpassed 2 million active daily players. The continuous rise was due to its play-to-earn mechanic, enabling players to receive SLP token and trade on crypto exchanges such as Binance.

As the game’s Co-Founder Jihoz said, the game was able to achieve the milestone despite not being available on App Store and Play Store. At the moment, the game can only be accessed by installing the Sky Mavis app or by downloading an APK on its official website.

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Bitcoin (BTC) Continues to Rally, Slowly and Steadily

As we enter Q4, many crypto analysts are certain that the road to recovery is very much in tow. In particular, seasoned crypto trader and analyst — PlanB, shares his analytical prowess with his opinion on Bitcoin’s price chart.

In detail, PlanB says that he finished an on-chain analysis. To highlight, he says that we are midway towards the second leg of the bull market. In his opinion, there is not a single sign of weakness yet for Bitcoin’s possible price run. 

To emphasize, PlanB draws light to the chart in the tweet. He says that the color overlay on the chart is not months to halving but is in fact an on-chain signal. This is a truly exciting observation. 

In conclusion, PlanB says that the second leg of the bull market will take place likely after 6 more months. At least, this is what he believes will happen based on his analysis alone.  

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Disclaimer Read More

Crypto News Land (cryptonewsland.com), also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.