Crypto SWOT: Crypto gambling across internet casinos is a booming business

April 19, 2022 World Blockchain

Strengths

Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Luniverse, rising 2,885.76%.

According to an article written by Bloomberg, Circle Internet Financial, the issuer of USD coin, the second largest stablecoin, landed $400 million in funding from a group that includes Blackrock Inc. and Fidelity Management and Research LLC. The funding is a clear sign of traditional finance’s growing acceptance of the exploding cryptocurrency industry.

The owner of the biggest Brazilian-based cryptocurrency brokerage is in talks to create a new crypto-focused asset manager, writes Bloomberg. 2TM Participacoes SA is seeking to join with Giant Steps Capital, Latin America’s biggest quantitative asset manager on the new project.

Weaknesses

Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was Mini Cat Coin, down 99.51%.

Bitcoin dropped below $41,000 for the first time in about three weeks, sliding further on mounting concerns about rising interest rates. The largest cryptocurrency fell as low as $40,996 on Monday, retreating for the seventh day in the past eight, writes Bloomberg.