Last Week in Review: Bitcoin records second-longest winning streak EVER

by Team Luno
· 2 minute read

The highlights from last week’s headline grabbers. All the important news, numbers and events from the crypto industry in easy-to-read, digestible news bites. 

News from the block

📈  Bitcoin records 12 days of consecutive positive growth for only the second time ever

  • Breaking through the key $20,000 level in the process, Bitcoin notched 12 days of consecutive daily growth.  
  • The 15-day streak in November 2013 is the only time a consecutive rally has lasted longer. 
  • The Bitcoin price surged 20% in the last week thanks to new inflation numbers signalling that the ongoing interest rate hikes by the Federal Reserve, the central bank in the US, may finally be working in slowing down the economy. 
  • Read HERE to learn how the interest rate can play puppet master with market movements. 
  • Also be sure to check out our Bitcoin 101 article HERE, where we explain in simple terms what Bitcoin is, how it works, and why it has stood the test of time. 

🐶  What in the blazes is Bonk and was it responsible for starting the Solana rally? 

  • It seems Solana had a week-long headstart on the current crypto rally, thanks, mostly, to a new cryptocurrency on Solana called Bonk.
  • CoinDesk recently went barking up a few trees looking for answers to questions of who exactly the Bonk creators are? Does the world need another Shiba Inu-themed memecoin? And what exactly is it meant to achieve? 
  • If you weren’t looking, Solana is up by more than 40% in the last week BTW. 

💻  Amazon Web Services and Avalanche partner to make it easier for developers and companies to use crypto and blockchain

  • In practice, this means that Amazon Web Services (AWS) will support the Avalanche infrastructure by making it much easier to run a node, but also by including Avalanche on AWS Activate, a programme that helps startups get set up on AWS. 
  • As reported by TechCrunch, many blockchains already use AWS to help power their networks, but this will be the first time the company has partnered with a blockchain company. 
  • Ava Labs, the company behind Avalanche, also wants to add subnet deployment as a managed service on the AWS marketplace, which will assist companies in easily creating their own blockchains inside the Avalanche network. 

TL;Did read

Gorillas, conservation and Bitcoin form an unlikely alliance in this riveting piece on MIT Tech Review, about how a gorilla conservation effort in the Virunga National Park in Congo is betting its future on crypto. Read HERE. 

Crunching the numbers

21% – Bitcoin’s price increased by double digits in the last week. 

15,000 – The number of businesses around the world accepting Bitcoin is reportedly more than 15,000. 

32 – How many halving events remain until there will be no more Bitcoins left to mine. There have been three halving events so far, each event followed by a massive rally in Bitcoin price. The next halving event is expected around March 2024. 

155,000 – The number of investors holding more than 10 BTC, worth about $208,437 at the time of writing.

The crypto time capsule

12 days in the green. May it last. 

Crypto trivia

What are smart contracts?

When it comes down to it, smart contracts are vending machines for the internet age. Read HERE how this technology and the supporting platforms are changing the status quo of finance. 

Worth a watch

You click and turn up the volume when you spot a video of Andreas Antonopoulos talking Bitcoin. 

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