Robotul Minerva ca: 
Simon Peters, cryptoasset analyst at multi-asset investment platform eToro: Bitcoin is on a four-month winning streak
Despite being down from its recent $30,000+ high, bitcoin is on something of a winning streak when looking over a longer period. The cryptoasset has grown for four months in a row, generally considered a positive pattern in a bull run up.
Bitcoin’s rally has taken something of a new aspect in 2023. Unlike last year where the cryptoasset took losses alongside economic worries and general pullbacks in investment markets, bitcoin has become something of a rallying point for investors and seems to be living up to its ‘digital gold’ character at the moment.
Last week it began the week around $27,000 and saw rallies to $29,500 over the course of the week. It did however pull back again at the weekend and is now around $27,700. It still has a long way to go before even thinking about a new all-time high (ATH) but it is showing price resilience where there was none last year.
Ether saw a similar weekly cycle, beginning around $1,800 before rallying to $1,950. A weekend sell-off saw it range back down to around $1,800 where it trades this morning.
Franklin Templeton launches digital money market fund
The digital TradFi assets market is quickly becoming one of the most interesting growth areas for crypto in 2023. Now Franklin Templeton has announced the launch of a money market fund on chain via Polygon.
The draw here is investors can now access what are ‘traditional’ financial instruments such as market funds, but are able to acquire and hold the tokens for those assets in their own wallets. Franklin Templeton’s offering holds around $270 million of assets and will process ownership and transactions on the Polygon blockchain.
Major financial institutions have been flirting with the technology for a little while now, but it would appear many are now taking the plunge to give the offering to investors. While each token will have its own investment case and assets that underpin them, the move to digitising and putting financial services on chain is definitely underway.
Sotheby’s debuts NFT marketplace
Major auction house Sotheby’s has debuted its secondary NFT marketplace, called ‘Sotheby’s Metaverse’. Collectors will be able to use the platform to buy, sell and exchange digital collectibles.
While the firm is far from the first to offer such a service, it is perhaps the most storied and old-school. It will be interesting to see if the old-fashioned experience of the auctioneer is sustained in the quality of the service it offers to clients.
The name alone could be enough to attract valuable works of art, especially from artists who have yet to digitise valuable real world art pieces. Of course, NFT technology extends well beyond the custody of digital artwork, with ownership use cases for an array of different assets that lack fungibility, from stocks to bonds and even property.
About eToro Group
eToro is a trading and investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 31 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
Above you will find a visual representation of the article’s content, an automatic classification and a summary of it! Collecting data this way aims to promote and facilitate the access to information in compliance with intellectual property rights, and according to the terms and conditions of the source. (www.nineoclock.ro).
