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Crypto This Week – Week 34

Exclusive Research

It was not just 007 screaming it’s “No Time To Die”; Bitcoin mustered up the strength to top the $50k mark for the first since May before retracing back to the $47k level. The king coin is fiercely fighting the bears to make a push higher.

The Ethereum Network has burned over 102,492 ETH since the London fork upgrade and switching to Ethereum Improvement Proposal (EIP) 1559 standard.

Cardano surged to the number 3 spot in the crypto markets after founder Hoskinson announced that a September network upgrade, named Alonzo, will enable the blockchain to process smart contracts. The total market cap of the protocol is now a whopping $83bn.

Moonriver, an Ethereum-compatible blockchain (parachain) on the Kusama network went live this week, launching its first DApp.

NFT sales hit a new high of $900m in August, largely driven by cryptopunks.

Crypto exchange KuCoin announced the launch of a Proof of Work mining pool, promising fee discounts to miners using renewable energy.

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Hi-Fi to DeFi - The total value locked in DeFi now totals a staggering $85bn. To put that in perspective, on 1 January 2021 the TVL was a modest $16bn.

In preparation for adopting Bitcoin as legal tender, El Salvador is rolling out 200 ATMs and preparing 50 bank branches across the nation to allow residents to easily exchange crypto for fiat.

Popular decentralized exchange, Sushiswap, celebrated its one-year anniversary on 24 August. Who doesn’t love salmon crusted cakes?

SEC Filing shows Morgan Stanley holds around $1m shares of Grayscale Bitcoin Trust (GBTC). Pesky bankers are coming for your Bitcoin.

Nothing in this article constitutes professional and/or financial advice. The content is provided exclusively for informational and/or educational purposes. Nothing is to be construed as an offer or a recommendation to buy or sell any type of asset. Seek independent professional advice in regards to financial, tax, legal and other matters.

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