About the Weekly Shift Round-Up - Our new weekly free round-up covers the major crypto news from the week, price action and is the place to keep up-to-date with Collective Shifts socials or free content. Delivered every Friday.

Welcome to the Collective Shift Crypto Round-Up for Friday February 4th.

Follow us across our channels to keep up-to-date with the latest news and announcements: Twitter, YouTube, Facebook, Website, Discord

👇  Summary

It’s been a quieter week for cryptocurrency price action, however there’s been a continual flow of industry news and a lot of action from the Collective Shift community!

In this edition of the Collective Shift Weekly Crypto Round-Up, we touch on:

• New Collective Shift product incoming?

• Bitcoin trades sideways, as total market cap edges higher.

• Crypto lobby fights back against U.S crypto regulation.

• India set to embrace bitcoin legalisation.

• Blockchain bridge Wormhole suffers >$300M exploit.

• The Collective Shift community talks VC funding, metaverse land and market cycles.

📣  Announcements

In a big week for Collective Shift, we’re excited to announce a host of new developments!

New 'Our Investment' pages

The 'Our Investments' section of the Member Platform has been overhauled with new images to easily follow, view and check in on our cryptocurrency investments!

Hiring! We’re on the lookout for a Crypto Content Writer

Your main duties would include creating a range of free cryptocurrency articles for the platform! Crypto and SEO knowledge is a must—the role is remote friendly.

If this is you then email support@collectiveshift.com.au a CV, previous writing examples and we’ll be in touch!

A new Collective Shift product?

NFTs were the big hit of 2021 and look to be sticking around long term.

Wouldn't a Collective Shift NFT portfolio be rather handy? Keep your eyes peeled for more information in the following weeks…👀

📆 The Week In Crypto

• Crypto lobby looks to scale back proposed new U.S crypto laws: Last week crypto advocacy group Coin Center sounded the alarm over controversial language in a draft bill which could give the Treasury sweeping powers to freeze or block transactions and accounts. This week the crypto lobby fought back.

• Another U.S spot Bitcoin ETF rejected: The SEC rejected another spot ETF application, this time from Fidelity. The SEC's been reluctant to approve a spot ETF, only favouring futures, which are settled with cash.

• OpenSea posts record monthly sales of $5B: The world’s largest NFT marketplace smashed its previous monthly high of $3.4B from last August.

• India set to embrace bitcoin legalisation: The Indian finance minister announced plans for a 30% tax on cryptocurrency. It’s a welcome sign considering India at one stage were potentially going to ban cryptocurrency.

• Blockchain bridge Wormhole suffers >$300M exploit: The popular bridge for moving assets across blockchains was exploited for 120K wETH. The core team are negotiating with the exploiter. Wormhole promises wETH will stay backed 1:1 with ETH amid mounting concerns.

• Solana launches Solana Pay: Solana Labs partnered with Circle to launch a new payments tool to make paying in cryptocurrency easier for businesses and users.

• 21Shares asset management expands crypto offerings: The world’s largest issuer of crypto exchange-traded products (ETPs) added new ETPs for AAVE, LINK and UNI as they aim to expand and offer the top 50 ‘quality assets’ by end of 2022.

📈Market Recap

It’s been a sideways week for BTC (-1%) as it trades between $35K–$39K, although in the last day it's struggled to break through this upper range and has headed lower. On the 30d and 90d chart, BTC remains in a downtrend.

Despite quieter markets keep your eyes peeled for U.S. employment data to be released on Friday (U.S time).

A big focus will be on whether BTC can hold above $30K—worth noting, BTC has only spent 18 days between a $20K and $30K range.

ETH's fared slightly better, +5% in the last 7 days. Since falling to a 7 month low a fortnight ago, ETH has shown some level of support and buyers stepping in at ~$2.5K.

Meanwhile total cryptocurrency market cap has began to recover, hitting a local bottom of $1.7T on Jan. 24, +5% to $1.76T (as of publication).

📽 This Week’s Collective Shift Content

📺 YouTube

Biggest Opportunities in the Crypto Market with Ben Simpson (Jan. 31)

• Buying opportunities while the market is down.

Bridging to Ethereum L2s with Nick Sciberras (Jan. 31)

• A tutorial to help users bridge ETH to Ethereum scaling solutions.

Weekly Project Discovery with Nathan Gurr (Feb. 1)

• Projects discussed include BakeryDAO, lvl protocol, Fluid, Circular Art.

Improve Your DeFi Research with Matt Willemsen & Ben Simpson (Feb. 3)

• What narratives and trends are hot right now?

Macro & Crypto Update with Matt Willemsen (Feb. 3)

• Historic NFT market volume & the latest macro round-up.

🎙Podcast

On the go and prefer audio? Listen to our range of audio content via the Podcast.

🧾 This week's free Team Insight

This week’s free Team Insight saw research analyst Nathan Gurr dive into the total NFT market cap.

TL:DR: The total NFT market cap could increase From $30B to >$100B in the coming years.

Read the full Team Insight in your inbox or at this link on our Website

📝Best From The Collective Shift Community

Facebook community (CSCC)

A fantastic post in the CSCC saw a member outline the possible ways to monetise your metaverse land.

An insightful post on venture capitals firms covered the big players, how to leverage opportunities and gain an advantage over other investors.

Discord

Wanderers NFT have been discussed regularly in the NFT channel—with some members expecting some positive things into the future.

Finally, the community have been discussing where we’re currently at in this cryptocurrency cycle.

Twitter

A record sale for BAYC saw the floor price rise to an ATH of 110 ETH.

More Venture Capital funds were announced as capital continues to flow into the crypto ecosystem.

🎗Wrap Up

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