Goldman Sachs and Barclays buy crypto project for $ 500 million

The rapid decline in cryptocurrencies over the past two weeks seems to have come to a halt for the time being. Bitcoin saw a big sale last week, starting at above $ 33, before hitting $ 800 on Thursday. eToro platform. The coin, however, recovered somewhat over the weekend and now costs between $ 29 and $ 000. Value Ethereum it also fell from around $ 2500 to below $ 1800, then bounced back to around $ 2000.

The weekly decline limit was described by many as the beginning "Crypto of winter"but now that this spiral has stopped, investors will want to see if the tokens can hold their price levels for at least the next few days. The last period when the market struggled with such adversities was 2018. But the market structure is completely different today than it was four years ago. Institutional investors now account for a much larger part of the market, which has already had a noticeable impact not only on prices but also on the way the market moves. Investors will now be wondering how these players will help support the next levels. With deals with major global financial institutions (see Goldman / Barclays and Emirates stories below), the sector can continue to gurgling despite difficulties with valuations.

Goldman Sachs and Barclays buy crypto project

Goldman Sachs and Barclays have just struck a deal to invest $ 500 million in Elwood Technologies - an institutional investment platform in cryptocurrencies.

The company founded by billionaire Alan Howard is focused on providing cryptocurrency investment solutions to institutional investors and has emerged despite widespread market problems in recent months. This move is an interesting moment in the market, hit by the cryptocurrency price confusion. Major initiators such as Goldman and Barclays are clearly looking at the growing importance of institutional cryptocurrency investing and the growing trend that has transformed the nature of the cryptocurrency market in the past two years. Individual investors are no longer alone in perceiving the value of the sector, and investors' long-term plans are still being built in the background.

Elon Musk is talking about dogecoin again

Elon Musk made the point again Dogecoin. The billionaire commented on Dogecoin's co-founder tweet, saying he believed it could still function as a currency. The comment appears despite serious adversities for the token, the value of which fell by 66%. in the last six months. The token hit just $ 0,07999, but rebounded after Musk's comments to now hover around $ 0,08639, a rebound of 8%. While it takes more than Elon Musk to make a Dogecoin switch from its current position to a viable digital currency possible, the process continues and his company is beginning to accept crypto-assets for some souvenir products. Musk also suggested that Twitter could accept payments in dogecoins, and would also work to combat crypto fraud and other issues on the Twitter platform, which could be a boon to the sector.

Emirates will start accepting cryptocurrencies

Emirates Airlines from the Middle East said they will start accepting bitcoin as payment for flights, as they will switch to blockchain, NFT and metaverse. It is currently the largest airline of this type in the world to accept bitcoins. The airline is at the forefront of cryptocurrency development in the aviation industry and has an extremely progressive and innovative approach to incorporating this technology into its business. The company said it will soon begin intensive recruiting to attract crypto talents to support the development of its projects. Bitcoin will function as a payment service for the company for now - just like paying with PayPal or another online payment service. After the deposit, the company will convert bitcoin back to fiat currency. While it does not support the overall crypto price, it will help support bitcoin blockchain activity and promote its use as a payment method, an emerging area for bitcoin that is often overlooked in discussions focusing on price.