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Prices are falling following the risk-off trend. Tezos starts cooperation with Team Vitality

Prices are falling following the risk-off trend. Tezos starts cooperation with Team Vitality

created Simon petersJanuary 10 2022

We invite you to read the weekly market commentary on cryptocurrencies, in which the situation on Bitcoin, Ethereum and NFT tokens.

Cryptocurrency Prices Fall Following General 'Risk-Off' Trend

Cryptocurrency prices crashed last week, following investors' general tendency to pull back from riskier investments as the US Federal Reserve indicated an accelerated desire to raise rates and sell debt assets.

Bitcoin plunged during the week, starting the new year at around $ 47. The world's largest cryptocurrency dropped on Wednesday after Fed news to below $ 000 - the lowest level since late September 43. BTC is currently below $ 000 with no sign of a rebound so far.

In the meantime Ethereum experienced a similar drop, at one point below the $ 3000 mark on eToro on Saturday. The cryptocurrency started the week above $ 3800 but is now trading for less than $ 3200.

The crisis in Kazakhstan is shutting down bitcoin mining

Bitcoin's hashrate fell after power cuts hit the Kazakh cryptocurrency mining industry. The ongoing political crisis that led to riots and tensions in the capital had an unintended impact on bitcoin. With the loss of electricity in the country, major mining operations were forced to close, leading to a decline in cryptocurrency hashrate, overall network computing power, and a decline in the value of BTC tokens.

Kazakhstan has quietly become a leader in the world of bitcoin mining, with production second only to the US and the recent suppression of mining operations by China. While the situation in the country is unclear, the ongoing tensions will potentially continue to have an impact on hashrate and the overall price.

The company offers the first-ever bitcoin "bi-dividends"

The US-listed blockchain company began offering dividend payouts in bitcoin, causing share prices to skyrocket. BTCS Inc, a blockchain tech company, saw share prices soaring by 44%. during the session last Thursday, despite significant drops in the markets. The company announced that it intends to pay investors $ 0,05 per share as dividends in bitcoin. The amount he will pay will depend on the price of the BTC token on the ex-dividend day. Investors will, however, have the option to choose a so-called "bividend" payment in a fiat currency.

Charles Allen CEO commented:

We want to reward our longtime shareholders for their continued support and encourage financial freedom by providing the means to directly own bitcoin and other digital assets.

BTCS offers blockchain infrastructure and data analysis tools for cryptocurrency investors.

Tezos collaborates with the main esports team

Open Source Blockchain Tezos has entered into a three-year partnership with a major French esports team Team Vitality. The details of what the deal means in practice are shrouded in mystery, but Tezos says it will "revolutionize" the Team Vitality fan experience. Tezos is already working with Formula 1, McLaren and Red Bull Racing. These links include NFT collectors' collections and other sponsorship and brand visibility projects for blockchain.

Commenting on the affiliation with Team Vitality, CEO Nicolas Maurer said:

“This is a truly ground-breaking partnership for Vitality that feels right considering 2022 will be the biggest year in our history. The opportunities Tezos can bring to strengthen the relationship between us and our fans are extremely exciting, and we are extremely proud that Tezos will be joining us on this journey.

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About the Author
Simon peters
eToro analyst. A graduate of the Faculty of Mechanical Engineering at Brunel University in London. He is CFA UK Level 4 certified in Investment Management.