65th Edition

This week in The Flippening, TL;DR

• Crypto in retirement funds?
• Google feels the pinch of the crypto winter
• Tweet to buy/sell NFTs

🔊 Top Highlights of the Week

Millennials and GenZ professionals want crypto in their retirement funds

A survey conducted by an asset management company revealed that approx 46 percent of Gen Z and 45 percent of Millennial participants wanted to add cryptos to their retirement portfolio. It is a massive growth from an earlier poll published by Investopedia in April, which had put this figure at around 27%.

Our takeaway: Retirement funds function to preserve wealth. With such growing interest, retirement funds could opt for yield farming methods in Decentralized Finance. These would be far less volatile and still capture the potential of cryptocurrencies.

Google's ad business is being hit by the crypto winter

According to the company's chief business officer, the decline in ad expenditure by crypto companies and other financial institutions has hit Google's ad revenues. The same has taken a toll on Alphabet's share price over the past few days since the earnings report came out.

Our takeaway: Google has already announced that it will start accepting crypto payments in 2023. The world's go-to internet portal acknowledging the importance of crypto towards its top line is a big deal! Moreover, the shareholders and, in turn, the board members would now be keener to have progressive regulations in place when it comes to crypto guidelines in google's policies.

Users Will Be Able to Purchase and Sell NFTs Via Tweets on Twitter

On October 28, Twitter announced a partnership with four marketplaces to enable users to easily purchase, sell, and showcase NFTs through tweets. The integration is called NFT Tweet Tiles

Our takeaway: Twitter has ambitious plans that its team plans to fulfill. With Elon Musk now at the helm of affairs at Twitter, we can expect a few surprises from time to time. Considering the degen population that constitutes Twitter, the crypto market would remain on its toes.

Other Highlights 🔊:

• Analytics shows that there has been a significant outflow of Bitcoins from exchanges in the past week. Investors rejoice this as HODLers increase!
• VISA files trademark application over its recognisable mark to be in digital wallets for crypto assets and NFTs. Looks like VISA is going full power into the crypto space.
• Crypto powerhouses are supporting Musk’s Twitter takeover; Binace poured in $500 million. Can crypto Twitter get any more ‘degen’? Only time will tell!
• Telegram launches username auctions on the blockchain. They tried to launch their own token some years ago, but the SEC was in their way. Fail once, try again, eh..

Crypto quiz time 🧐

This entrepreneur co-founded one of the largest Ethereum scaling solutions, whose market cap is now a little over $8 billion. This blockchain was recently in the news because of an interesting partnership with Reddit.  

ADA which had been struggling for the past couple of weeks has bounced back stronger. Double-digit growth for ADA, BNB and ETH! It seems that the crypto market might just have left its worst behind.

With more than 30% upswing over the past week, the Decentralized Exchanges sector outperformed every other. Overall it was a great week for crypto!

Coin of the week 💸

Ether: $ETH

Although we had a few close contenders for our coin of the week, we decided to side with the smart contracts pioneer and the largest altcoin. With ETH almost 20% up over the past week, several investors are now excited about the crypto market again. Moreover, the DeFi TVL has been on the rise for a few weeks now.

ETH has a strong support around the $1450 level. We are optimistic that ETH will be able to hold this level.

Featured - Credix, on-chain asset-based financing

How Investors are Using DeFi to Unlock Real Capital in Emerging Markets

New payment rails created by blockchain are giving investors exposure to debt opportunities in untapped emerging markets. One of the leaders driving this innovation is Credix, the global platform providing on-chain asset-based financing to innovative non-bank lenders in Emerging Markets.

Mudrex Founding Partner and CIO, Ankit Verma, spoke to Credix on how DeFi is bringing innovation to traditional finance, blockchain, and what’s next for the Web3 space.

Full interview here

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Here we are at the end of our 65th edition. We hope you liked reading it.

Checkout our blog and stay updated on the latest happenings in the crypto world!

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