79th Edition

This week in The Flippening, TL;DR

• UK powering ahead in quest for mainstream crypto regulations
• Bitcoin unaffected by Fed rate hike, hits six-month high
• Unbanked and Mastercard join hands to issue crypto card in Europe

Top Highlights of the Week

1. Nothing's stopping this train

As the market gears up for a bull run, the UK government moves ahead with its plan to bring cryptocurrencies under the umbrella of mainstream financial regulations. The Treasury stated that its proposal for crypto regulations would fall in line with its approach to traditional finance. Regulators stated this move was in response to recent market events, and that protecting consumers is its priority.

Our takeaway:  The UK government's ambition of becoming a global crypto is public information. A not-so-ideal year in the crypto industry last year for investors seems to have pushed regulators to act in the best interest of the consumers. Bringing crypto regulations in line with TradFi ones will only bolster the digital asset's image in the public eye. And where there is trust, large-scale adoption will follow.

2. Standing tall

The Fed's decision to increase interest rates from 4.5% to 4.75% has barely affected Bitcoin's price, as the largest crypto by market cap remains consolidated above $23,000 by a healthy margin, and even briefly broke the $24,000 barrier. This was BTC's highest peak since August last year. Just in the past month, the coin has registered a gain of 42%!

Our takeaway: The bear market didn't do Bitcoin's reputation of being a hedge against inflation any favors. But the cryptocurrency is currently proving itself by holding its ground against an unforeseen rate hike by the Fed. All signs point to a bull run being closer than ever. For now, we keep our fingers crossed.

3. Better together

Unbanked and Mastercard teamed up to issue DeFi cards in Europe. The two companies plan to use their existing network to partner up with Web3 firms to accelerate the process. With this team-up, residents of the UK and Europe will gain access to the Litecoin Card, a product that's been available in the US for the last two years.

Our takeaway: Despite all the advantages DeFi has over traditional finance, the one thing TradFi has in abundance is the mass consumer's trust. And the best way forward for the financial sector is for DeFi and TradFi to help each other overcome their respective obstacles to build a better system, and this is a great example of what the industry should be trying to replicate. Truly the best of both worlds.

Share it with your friends

• Indian Union Budget 2023 has nothing new for the crypto industry. But better crypto regulations are only a matter of when, not if. Read here.
• Twitter to possibly integrate crypto payments down the line. Elon Musk's building for the future. Read here.
• Australia's strengthening crypto regulations to prevent scams. Consumer trust +100. Read here.
• Anti-Putin Russians are sending donations via crypto to help Ukraine. Crypto's bringing people together in difficult times. Read here.

Crypto simplified

Most of us must have heard about chatGPT by now. It is the latest internet sensation right now. For the few unaware souls, ChatGPT is an AI-based chatbot that OpenAI develops. This chatbot was released to the public in November 2022. Since its debut, ChatGPT has gained much traction due to its ability to process prompts and offer human-like answers.

According to a new report by Bloomberg, Google CEO Sundar Pichai has confirmed that the company will make artificial intelligence-based large languages.

But how does this have anything to do with crypto?

It turns out the true gravity of the potential of generative AI is massive. The recent hype has brought attention to the increasing demand for computing resources. And the only way many such AI tools function efficiently is through decentralized computer networks. Although these networks are still far from being widely adopted by enterprises, the potential for increased reliability makes them a promising investment.

As the crypto market continues to evolve, decentralized computing networks have been making significant gains in the past two weeks.

• $RNDR is up by 209%,
• 77% for $AKT
• $FLUX rose almost 44%,
• and 41% for $LPT

It's clear that there is a growing interest in this segment of the market. In conclusion, decentralized computing networks are worth keeping an eye on as they can revolutionize how we think about computing resources. As technology evolves and becomes more accessible, it will be exciting to see how it develops and becomes integrated into our daily lives.

Disclaimer: All price movements are recorded up to 03:30 PM UTC, 03rd Feb 2023

ADA continues its good run for yet another week. BNB has also recovered after a considerable phase of remaining under the grip of bears.

Disclaimer: All price movements are recorded up to 03:30 PM UTC, 03rd Feb 2023

Web3.0 sector seems to be flying, remaining unaffected by the macroeconomic factors worldwide.

Coin of the week 💸

Polygon: $MATIC

Polygon's native token, Matic, has been creating waves with its developments. The team at Polygon has been forging partnerships, and have already secured valuable projections for the next year. The activity around Matic wallet adresses has suddenly been increasing. With strong fundamentals and attention to detail.

Featured: Mudrex Coin Set 😎

With the crypto markets slowly turning away the bears, it is be a good time to evaluate different sectors in the crypto ecosystem. At the same time, diversification is also essential.

With the growing popularity of smart contract applications, the sector is set to see an influx of smart money.

Smart Contract Platforms Coin Set by Mudrex invests across the top projects in the smart contracts ecosystem.

Click to invest in Smart Contracts