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Dormant Crypto Wallets Wake To Millions & EU Passes Landmark Crypto Regulation!  

The Market Merry-Go-Round Continues

Investors everywhere take note! Cryptos continue to dominate the news, meaning it’s never too late to invest and cash in! 

Federal Reserve officials backed another interest-rate increase as they monitor economic fallout from bank strains. Fresh emergency loan data showed financial stress continues to linger. 

This could be the first indication of a “higher for longer” FED when it comes to interest rates. If so, another bank fail could be on the cards and therefore another bail out, even though we saw some of the banks making really good revenue. As a result we may see investors staying clear of the banking sector for now.  

As for real estate, the health of the market came under scrutiny last week. Drops in building permits and housing starts means a further contraction in the housing market. 

However, for investors, this could mean retails, REITs and construction companies will present some good VCA opportunities.  

In the crypto space, the EU passed a landmark crypto regulation. The Markets in Crypto Assets (MiCA) bill is set to become effective in 2024 and will be the EU’s first regulation for the crypto industry. The aim of MiCA is to provide a comprehensive framework for regulating crypto assets in the EU.  

What does it mean? It means MiCA provides a clear regulatory framework for crypto assets in the EU. However, critics fear it may stifle innovation in the crypto industry which may affect investor confidence. Time will tell, which is why investors must always be diligent and do their research carefully. 

Meanwhile, those with dormant crypto wallets found all their Christmases come true when they woke to find millions of dollars sitting in their accounts! A long-dormant Ethereum wallet from 2015 was found to be worth $4.42M. At the same time an ancient Satoshi-era Bitcoin wallet that held 1,128 BTC for over a decade transferred 279 BTC worth about $7.8 million. 

The recent awakening of these long-dormant crypto wallets serves as a reminder of the potential value of early investment in cryptocurrencies. As the crypto market continues to evolve and mature, it’s possible that more dormant wallets will re-emerge and add to the growing wealth of the crypto world. 

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