Crypto News Recap: BTC less volatile than stocks

Published November 6th, 2022 - 02:28 GMT
Crypto News Recap: BTC less volatile than stocks
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The Crypto News Recap is your weekly pulse of the markets, helping you track every single important news story that happened in the crypto sphere. This week, Solana announces a huge partnership with Google, Kwon is prosecuted in South Korea for LUNA mayhem, and BTC is less volatile than stocks!

Let’s Dive in!

Solana Teams up with Google

Google Cloud's Blockchain Node Engine will be available on the Solana chain in 2023, for making it easier for everyone to launch the Solana node in the cloud.

Users can launch a dedicated Solana node in the Cloud thanks to the integration. After the announcement, Solana's price increased dramatically compared to the previous days' prices. While examining the coin's growth over the last 24 hours, it was discovered that the price had risen by 2%, with a market cap of $12,883,722, 583 USD.

BTC becomes less volatile than S&P 500 and Nasdaq

Crypto News Recap: BTC less volatile than stocks

According to findings published this week by crypto data provider Kaiko, Bitcoin's 20-day realized volatility, a metric that measures daily changes in the price of Bitcoin, has fallen below both the Nasdaq and the S&P 500 for the first time in two years.

It is also the first time since August 2020 that the world's largest cryptocurrency has outperformed the S&P 500.

Do Kwon accused of manipulating Terra’s price

According to a South Korean media report, prosecutors have obtained evidence indicating that Terraform Labs co-founder Do Kwon once directed an employee to manipulate the price of Luna Classic (LUNC).

According to a Nov. 3 report by Korean Broadcasting System (KBS), an official from the South Korean prosecutor's office stated that they have obtained a "conversation history" in which "CEO Kwon specifically ordered price manipulation."

Kwon's whereabouts remain unknown, despite the Terra ecosystem co-founder previously claiming he is "not on the run."

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