After a quiet spring, it seems the market is starting to wake up and gearing up for a busy summer.
Don’t worry, it’s not that cryptocurrencies are planning to go to festivals; it’s because inflation in the US has been better than expected, reactivating the stock and equity markets. And since the crypto market didn’t want to be left behind, here we are: with Bitcoin back in the green.
Bitcoin at Its Prime
On May 16th, Bitcoin had its best day in the last 2 months, recovering nearly 8% and surpassing $66,200.
The main reason has been the reduction in inflation in the United States, which has dropped to a 3-year low (3.4%) according to CPI data. This news has reactivated the equity markets and pushed BTC’s price upwards.
Another reason is the resurgence of investment in ETFs. Major US banks like JP Morgan and Wells Fargo have revealed multimillion-dollar investments in spot Bitcoin ETFs. The same has been done by other entities such as BNY Mellon and BNP Paribas.
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Chromia Prepares for a Green Summer
The positive performance of the crypto market extends to altcoins like Chromia (CHR), which has risen 7.31% this month and over 140% in the last year.
The reason for Chromia’s growth is the wide range of possibilities offered by this modular blockchain, both for developers and users.
Chromia allows the creation of blockchain use cases for finance, gaming, real estate, and public services, positioning it as one of the cryptos with the highest adoption potential.
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GameFi: The Crypto Sector’s Favorite
As cryptocurrency markets recover, new GameFi projects (blockchain-based video games) are emerging, similar to what happened between 2020 and 2022.
Immutable, a GameFi studio developing games on Ethereum and Polygon, has launched Guild of Guardians on Google Play and Apple Play Store. The game features its own token GOG and NFT dynamics as additional rewards.
Another example of this trend is Seraph: In the Darkness, a game developed on Arbitrum that has raised over 11,000 ETH through NFT sales representing armor pieces, weapons, and items for the game’s characters.
Projects like these demonstrate that GameFi is one of the most desired use cases by a large part of the crypto community.
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