Mooners and Shakers: Google invested $1.5 billion in crypto companies; Bitcoin and Ethereum Flat as EOS Pumps – Stockhead
Mooners and Shakers is sponsored by Dacxithe world’s first purpose-built Crypto Wealth platform.
So Bitcoin, Ethereum and various other cryptocurrencies might not be looking surprising today, but here’s one of those “What bear market?” addendums… a recent report reveals that Google has been serious about crypto for the better part of a year.
According to reportLed by Amsterdam-based research firm Blockdata, Google’s parent company Alphabet has been actively investing in the crypto space since at least September 2021. Figures are ballpark figures, but research suggests the tech giant has poured over $1 US$.5 billion in blockchain-focused companies through June this year.
These companies include major crypto player Digital Currency Group (which counts Grayscale, Genesis and CoinDesk among its subsidiaries), Fireblocks, Dapper Labs (of NBA Top Shot NFT fame) and Voltage.
And another thing that jumps out at you about this is that Alphabet is ahead of some other big legacy names with these investments, including BlackRock, Morgan Stanley, and Samsung, which between them have invested around $3 billion. dollars in various projects over the same period.
Also check out the others on this partial list. Yeah, Commonwealth Bank is out there…maybe when favorable market conditions return they will look to resume the crypto trading pilot they announced late last year.
In total, according to the report, 40 major companies and financial institutions invested more than US$6 billion in blockchain ventures during this 10-month period.
Carry? If you feel sullen, bored, depressed, or angry with your phone when you check your crypto wallet every 15 minutes or so… then keep in mind that various bosses in the universe (nope, not you Chris Gayle) see clearly crypto will play an important part of their dominant future in the world.
On some price action…
Overview of the top 10
With the overall crypto market capitalization at US$1.07 trillion and down around 0.8% since yesterday, here is the current state of affairs among the top 10 tokens – according to CoinGecko.
Major crypto prices stumbled again overnight here in Sydney. However, things appear to be picking up slightly over the past hour as of writing…leading to a position not much different from yesterday.
Some quivering bottom lips based on the US Federal Reserve’s upcoming moves were apparently causing trade concerns yesterday. Can’t wait for Jerome Powell and friends to be nothing but a PS on a footnote at the bottom of the weekly crypto news which the publisher then tosses into the dustiest corner of the floor from the cutting room.
Until then, however, sultry events affecting trade macroeconomics like the Jackson Hole Symposium (August 25-27) are also part of the “super dark coder” crypto trading conversation. The mail on this seems to be that Powell will likely sound “hawkish” about inflation and rising interest rates for the rest of this year.
Will your wallet survive #JacksonHole this week? I can attest that this fall is frightening AF. pic.twitter.com/ZloGA20IhI
—Arthur Hayes (@CryptoHayes) August 22, 2022
While this really shouldn’t come as a huge surprise, there were at least some the hopium smoke is drifting on the premise that a possible slight slowdown to 50 basis points from 75 would be at least a sliver of silver lining for risk asset markets.
And rebellions are built on hopium, according to Jyn Erso, whose father was forced to build the Death Star and was absolutely no financial adviser.
Highs and lows: 11–100
Sweeping a market cap range of around US$8.3 billion to around US$425 million across the rest of the top 100, let’s take a look at some of the biggest 24-hour winners and losers as of press time. (Stats accurate at time of publication, based on data from CoinGecko.com.)
• EOS (EOS), (market cap: $1.85 billion) +2o%
• Chiliz (CHZ), (mc: USD 1.19 billion) +19%
• bitcoin money (BCH), (mc: USD 2.35 billion) +4%
• EVMOS (EVMOS), (mc: USD 540 million) +4%
• The graphic (GRT), (mc: $823 million) +4%
So why on earth is the Layer 1 EOS pump “forgotten”? That’s actually close to 50% gainz over the past week or two.
The main thing we find is that according to reports, the company has now settled with investors who claimed the project violated U.S. securities laws by failing to register EOS as a security with the U.S. Securities and Exchange Commission (SEC).
Apart from that, however, the EOSIO blockchain is also undergoing a rebrand. Ah yes, the good old name change pump… wasn’t it more of a crypto-market phenomenon in 2017/18? Back when EOS raised a massive US$4 billion ICO war chest? Answer: yes, it was. The AntShares rebranding to NEO immediately comes to mind, for example. Ridonculous, halcyon crypto-boom, wild west days.
This week, we’re unveiling the highly anticipated EOSIO name change, and next month, $EOS will activate its consensus update v3.1 (hardfork).
🧵 Here’s what you need to know about #TheNewEOS. 🧵
— Yves La Rose (@BigBeardSamurai) August 15, 2022
$EOS is one of the few coins to have had bullish price action in the last 24 hours
No wonder it’s up more than 4% with a daily sentiment signal like this 👀 #EOS pic.twitter.com/k6xhTGUEO1
— Trade the chain 📊 (@tradethechain) August 22, 2022
ARE WE DAILY
• Celsius (CEL), (market capitalization: 720 million USD) -25%
• Helium (HNT), (mc: $823 million) -5%
• Hedera (HBAR), (mc: $1.5 billion) -4%
• Arweave (AR), (mc: USD 611 million) -4%
• Chain (XCN), (mc: $1.87 billion) -4%
around the blocks
A selection of chance and relevance that marked us during our morning trips through the Crypto Twitterverse…
A few bears…
The $20,800 $BTC support is MUCH more important than most realize. 👀
It’s from 2015, so the bulls will defend it with their lives.
A lower break is more like a question of “when” than “if”.#Bitcoins pic.twitter.com/l5s2w6xigt
— Justin Bennett (@JustinBennettFX) August 22, 2022
The market is about to give you the ultimate exit opportunity (scam pump)
– crypto cap (@CryptoCapo_) August 22, 2022
Peter, you tweet more about #bitcoin than gold. Thanks. 😆
— CZ 🔶 Binance (@cz_binance) August 22, 2022
Some not too appetizing food for thought there. A bit of positivity to end, then…
Many wonder whether to buy #BTC at $21,000 or $22,000 or $23,000
Meanwhile, not realizing that anything under $35,000 is a bargain in the long run$BTC #Crypto #Bitcoins
—Rekt Capital (@rektcapital) August 22, 2022
— naive (@naivememe) August 22, 2022
The wheels turn @NFTFestAus 2.0
Register your interest in speaking, presenting or sponsoring HERE -> https://t.co/CvaerRsoBL
The story so far? You can read more HERE -> https://t.co/bbToDC6k6r pic.twitter.com/TrbPx8dQN2
—Steve Vallas (@stevevallas) August 22, 2022
#Mooners #Shakers #Google #invested #billion #crypto #companies #Bitcoin #Ethereum #Flat #EOS #Pumps #Stockhead #Crypto