Crypto-friendly Germany

  • 27 April 2022
  • David Jones

Crypto-friendly Germany, more companies in the metaverse, Twitter is sold while Netflix’s value plummets

News from the crypto world

The crypto market opened the week with mixed performances. Some of the biggest cryptocurrencies by market cap saw more negative performances, with Bitcoin now down almost -3% right below the $37,000 level, Ethereum almost -3% at $2,744 and Solana falling to $88, but now having managed to bounce back to $94. However, Monday saw a positive start for altcoins such as Dogecoin, Terra and ApeCoin which managed to kick off the week with positive point percentages.

Germany ranks most crypto-friendly country

Coincub has recently shared its Global Crypto Ranking for Q1 2022 and has crowned Germany the most crypto-friendly country. Germany earned the first place on the podium for this trimester thanks to its “positive stance on cryptocurrency trading and investment”. The first spot had previously been held by Singapore, now ranking second. According to Coincub, Germany has taken major steps in cryptocurrency acceptance even from an institutional perspective and is second only to the US in the number of Bitcoin nodes.

Nissan and Toyota to join the Metaverse

The list of companies entering the metaverse have been growing steadily over the past months and two new car manufacturers just joined. As reported by the newspaper Nikkei Asia, Nissan* and Toyota* are the latest to launch in the metaverse, with very different plans in mind. While Nissan has been working on virtual reality settings for its customers, Toyota is focusing more on implementing a work space in the metaverse for its employees.

Stock market performance

The week opened with mixed performances for the stock markets as well. Major US and European indices had similar performances: the week closed in the red for both markets, with steep declines on Friday. However, this trend seems to be changing and prices have been slowly moving upwards since the beginning of this week. The Asian market took a hit and major indices closed last week and opened the new one in the red over global fears related to China’s zero Covid policy.

Record losses for Netflix

Although Netflix* had predicted growth of 2 million users for the first quarter of 2022, the streaming service giant had to count its losses instead, closing with 200,000 users leaving the platform. The announcement was made last week and the stock price has been going down since. The competition in the streaming industry has been strenuous, with a growing number of service providers popping up. Netflix has also been at the centre of recent controversies regarding raising the prices of its subscriptions, but it was speculated that the decline in users could also be attributed to the company stopping business with Russia in the wake of the war in Ukraine.

Twitter accepted Musk’s offer

Twitter has accepted Elon Musk’s offer to buy the social media platform for $54.20 per share, around $44 billion in total. Early on Monday, rumours that the eleven Twitter’s board members were reportedly meeting with Musk to discuss his offer sent the price up, and the uptrend continued when the news of the offer being accepted was announced later that day. Twitter* stocks have risen by over +30% in price over the past 30 days and now stands at $46.