Mastercard is once again making moves in Web3, announcing on Monday that they would enable cryptoasset trading for banks. The Chief Digital Officer said “There’s a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions.” We continue to see enterprise adoption of Web3 and cryptoassets accelerating into 2023.

Web3 has a new challenge: How to scale this technology to meet the demands of enterprises and onboard the next billion users, without trading away the very thing that makes blockchains a powerful tool—their decentralized, trustless, immutable nature. Alex wrote an op-ed for Fortune outlining a practical approach for how to bring 1 billion people to Web3.

Enterprise adoption continues to be a big theme in Web3. On November 8th to 9th, the Blockchain Research Institute, a frequent collaborator of the Ninepoint Digital Asset Group, is hosting its annual Web3 and Blockchain World Event in Toronto, with a focus on enterprise and government use-cases. Check it out here.

Meanwhile, Decentralized Finance (DeFi) continues to attract VC money: Uniswap Labs recently closed a $162 million funding round from brand-name VC firms, including Andreesen Horrowitz, Variant, Paradigm, and others.

Finally, The Case for Ethereum in Charts: Last week we did some analysis on Bitcoin’s core quantitative and technical metrics to determine if the price had found a floor. Our conclusion: for the patient investor, now is a great time to make an allocation to Bitcoin – read the full report here. This week, we look at the 2nd largest cryptoasset by market capitalization – Ethereum (ETH). How does Ethereum score? Is now a good time to buy? Check out this week’ Quantitative Analysis section for more.