China launching its first state-backed NFT marketplace. Central Bank of Turkey completes first CBDC test. Microstrategy buys more BTC.
Weekly Market Index
Last week’s crypto market prices fell slightly by -1.74%. Volume and volatility also dropped by -10.48% and -27.40%, respectively.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) were down -1.4% and -1.1% in the past seven days, respectively. Performances of other selected top-cap crypto tokens were mixed. Litecoin (LTC) was among the top performers. Its next halving event is estimated to be in 2H 2023.
News Highlights
- China is launching its first state-backed NFT marketplace. The marketplace will also be used to trade digital copyrights and property rights along with collectibles.
- The Central Bank of Turkey successfully carried out the first payment transactions on its central bank digital currency network as part of an initial test phase.
- Italy’s Senate approved its budget for 2023, which included an increase in taxation for crypto investors — a 26% tax on capital gains on crypto-asset trading over 2,000 euros.
- Crypto asset manager Valkyrie Investments proposes a plan to become the sponsor and manager of the Grayscale Bitcoin Trust (GBTC). In its proposal, Valkyrie said it wants to facilitate GBTC redemptions at net asset value (NAV) for investors.
- MicroStrategy bought an additional 2,500 Bitcoins for US$45M in November and December. However, the company also sold 704 Bitcoin, the first time it has done so since it started purchasing the cryptocurrency in 2020.
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Catalyst Calendar
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