Concerns about inflation are causing the cryptocurrency market to vibrate

Inflation concerns once again kicked off the cryptocurrency market last week, with a big sell-off after last week's gains.

Bitcoin dropped to $ 21, down from last week's $ 400 value. He was hit particularly hard by concerns about inflation, with German data higher than expected, coupled with protocols FEDwhich emphasized that this is not the end of rate hikes yet. Bitcoin has suffered twice, also from the liquidation of long-term positions in the future market as it struggled to recover from the previous week's gains.

Ethereum it also recorded double-digit losses and is now just below $ 1, down from last week's position of almost $ 600. Quite unlike a week ago when it was supported by the news of The Merge along with many of the major cryptocurrencies, its profits have eroded as the correlation of cryptocurrencies with stocks made prices react more sensitively to macro pressures.

While last week's pullback will undoubtedly be frustrating for investors, a lot is happening in the crypto market, especially with only a month left until The Merge. We can therefore see an interesting relationship between the excitement of changes in the network affecting the price, and the stressful macroeconomic and geopolitical situation causing constraints.

Alphabet supports crypto projects

A new Blockdata report revealed that A invested more in cryptocurrencies and blockchain companies than any other publicly traded company between September 2021 and June this year.

He reportedly spent $ 1,5 billion on four projects in an effort to stay ahead of competitors. It has beaten companies such as BlackRock, Morgan Stanley and Samsung, which have invested about $ 3 billion among themselves.

Report blockdata showed that of the 40 publicly traded companies it tracks, around $ 6 billion have flowed into a total of 61 cryptocurrency and blockchain startups, showing that despite recent price volatility, the long-term trend continues and intends to remain.

The EU is considering a regulator with an emphasis on cryptocurrencies

The European Union is to create a completely new regulator that will ensure the supervision of cryptocurrencies.

While the crypto market has already been hit by recent legislation such as the Cryptocurrency Asset Markets Regulation (MiCA), it seems that a specialized Anti-Money Laundering (AML) regulator will now be created and cryptocurrency providers will fall under its remit.

While the deadlines are still unconfirmed (and depend on the negotiations), the EU seems to be increasingly moving towards this area of ​​innovation.

Ripple and Travelex are working together to enable cryptocurrency payments in Brazil

Ripple and Travelex Bank have partnered to enable foreign payments in Brazil. Ripple's On-Demand Liquidity (ODL) will enable Travelex customers to instantly send money across borders, with low-cost settlement and with no upfront capital required in the market they wish to transfer funds to.

The implementation of regulations that protect customers and at the same time favor innovation strengthens the status Brazil as a supporter of cryptocurrencies.

Brazil is a major player in crypto payments, with $ 780 billion transferred each year. The latest collaboration therefore seems to be a logical step, especially considering Latin America's broader commitment to bringing crypto into circulation.