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Weekly Bitpanda Market Recap #22 - Insights from the world of investing

Camilla Marziani

By Camilla Marziani


News from the crypto world

Last week, the Crypto Fear & Greed index peaked at 60/100, indicating that the crypto market sentiment was greedy, though it moved to a more neutral territory, currently at 48/100. Bitcoin (BTC) and major altcoins skyrocketed and closed the week with significant gains, with Ethereum (ETH) now hovering around €3,100. In the past seven days, many altcoins saw double-digit percentage increases, such as Solana (SOL) up +15% now putting it at around €115, Dogecoin (DOGE) with +18% to €0.15, Celo (CELO) up +27% to €4 and Near Protocol (NEAR) with +17% to €15. 

Satoshi Island plans get support from the prime minister of Vanuatu 

Bob Loughman Weibur, prime minister of the Republic of Vanuatu, welcomed the crypto community project “Satoshi Island” with a letter of endorsement. Vanuatu, the republic in the South Pacific Ocean and an archipelago of around 80 islands, has been chosen as the location for Satoshi Island, which will be located in the island currently known as Lotaro. 

The project behind Satoshi Island is for it to become “a real-world crypto economy and blockchain based democracy”, where people will be able to actually live in smart-living housing and where there’ll be no space for fiat currency. The project received more than 50,000 applications for the 21,000 NFT citizenships that will be created.

Senator Lummis taking Bitcoin’s defence

Senator Cynthia Lummis is known as a Bitcoin supporter (and holder) in the U.S. government and has defended the cryptocurrency yet another time. In an interview with Meet the press, the senator argued that, at least at the moment, Bitcoin should be considered a commodity from a policy making perspective - exactly like cattle. Senator Lummis has been working together with Senator Gillibrand on the “Responsible Financial Innovation Act” to provide a framework for the full integration of cryptocurrencies in the financial system of the United States. 

News from the stock market

Recent earnings reports:

Stock market performance

The European and US stock markets closed the week on a positive note, with major indices in the green. The Asian stock market saw a more fluctuating performance, with Nikkei closing with losses for almost -1% and the SSE with gains for around +1%.

Baltics end imports of Russian gas

Lithuania became the first European country to end all imports of gas from Russia. Over the weekend, both the Lithuanian President Gitanas Nausėda and the Prime Minister Ingrida Šimonytė announced the decision on Twitter. Lithuania, Estonia and Latvia have been calling for European nations to stop importing gas from Russia following the war on Ukraine, as all the three Baltic states have stopped importing gas from Moscow since the beginning of the month. 

Twitter gets a new (largest) shareholder

Elon Musk has become Twitter’s largest shareholder after buying a 9.2% stake in the company for $2.9B. Twitter* stocks saw a 20%+ spike after the news broke.

The Tesla CEO is well known for his use of the social media platform, which caused him some trouble in the past with the US Securities and Exchange Commission. In fact, as per an agreement with the SEC he signed in 2018, Musk is required to have a lawyer double check and pre-approve his tweets about Tesla. 

Check out the price developments of your favourite cryptocurrencies, stocks*, ETFs* and precious metals on our app for iOS and Android or on our web app. Check our Bitpanda Blog and follow our social media channels to always be up to speed. Don’t forget to subscribe to the official Bitpanda youtube channel for our weekly recaps and video content. 


This article does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets.

This article is for general purposes of information only and no representation or warranty, either expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this article or opinions contained herein. *Bitpanda Stocks are contracts replicating an underlying stock or ETF. More information and the PRIIPs key information document (KID) are available at bitpanda.com.

Camilla Marziani

Camilla Marziani

Global content specialist, blockchain enthusiast and coffee lover