Take a look at some of the top 10 news that have happened in the last 2 weeks.
1. Bitcoin rallies above $46,000
Bitcoin has managed to reclaim lost ground from the slight sell-off reaching lows of around $43.8K and is back trading at 46K. Bitcoin is edging closer toward analysts’ projected $50,000 price tag and with its potential climb, the crypto market capitalisation is also inching towards a $2 trillion market value.
2. Ethereum price soars above $3K
The highly anticipated London hard fork went live on Aug. 5, which ushered in the Ethereum Improvement Proposal (EIP) 1559. These upgrades adjusted gas fees and introduced a burn mechanism. It has been the catalyst for the surging popularity of Ethereum-based DApps which has resulted in $100 million worth of ETH being burned.
Ethereum has surged past 3K and recorded a weekly gain of almost 20%, at the time of writing.
3. Soccer superstar Lionel Messi is being partly paid in crypto
To the dismay of some die-hard soccer fans, Lionel Messi recently left the Spanish side Barcelona and signed a 2 year deal with the French soccer club Paris Saint-Germain (PSG), The contract nets him an annual salary of $41 million plus bonuses, and a reported $30 million signing-on fee.
PSG shared that Messi’s “welcome package” includes a significant amount of their cryptocurrency PSG Fan Token.
4. Uniswap generated more than $1B in liquidity provider fees
Leading decentralized exchange Uniswap has become the first decentralized finance (DeFi) protocol to generate more than $1 billion worth of platform fees for liquidity providers.
Taking into account the fees generated by both Uniswap v1 and its v3 deployment, roughly $1.02 billion has been distributed to Uniswap liquidity providers since its creation in November 2018.
5. President of Argentina open to Bitcoin and a CBDC
Increasing number of countries have shown favourable views on the potential adoption of digital currencies. At the center of the precarious limelight, Argentina’s president Alberto Fernandez has shared openness to the idea of having a central bank digital currency and even recognizing Bitcoin as legal tender — as El Salvador did earlier this year.
Despite the country’s central bank head voicing out a rejection of the idea, the development of more and more countries taking digital currencies into consideration may be a good sign.
6. Biggest digital token Heist returns nearly all of stolen $610m crypto
The world was shaken by the news surrounding what is likely to be one of the biggest cryptocurrency thefts ever.
The hackers managed to exploit a vulnerability in the Poly Network —a platform that looks to connect different blockchains— but almost immediately returned most of the funds they stole.
Around $33m in frozen coins have yet to be returned and the unidentified hacker said that his attack was simply for the purpose of exposing the vulnerability of the platform and “for fun”.
7. Cardano surges sevenfold in 2021
Cardano’s ADA has held strong onto its title of being among the five biggest cryptocurrency by market value. In 2021, ADA’s gains are at an outstanding 700% and continues to grow along with the recent crypto market rally.
While there are still detractors and skeptics for its utility, there are a burgeoning number of supporters pointing to its relatively lower energy usage, projects in identity management and governance, and its ability to capitalize on the growth of decentralized finance (DeFi).
8. JPMorgan quietly unveils access to a half-dozen crypto funds
With financial advisors now allowed to begin placing private bank clients into a new bitcoin fund, JPMorgan rolled out access to four funds from Grayscale Investments and Osprey Funds: Grayscale Bitcoin Trust, Grayscale Bitcoin Cash Trust, Grayscale Ethereum Trust, Grayscale Ethereum Classic Trust and Osprey Bitcoin Trust.
Led by CEO Jamie Dimon, the announcement has garnered many double takes, as Dimon is one of Wall Street’s most outspoken skeptics of bitcoin and related digital assets.
9. Google runs crypto ads again
Under Google’s new policy, which went into effect on Aug. 3, advertisers offering cryptocurrency exchange and wallet services are once again allowed to market their products.
The crypto ad policy revision was first outlined in June and currently only encompasses advertisers who are targeting United States consumers. Many see this slight shift in stance and regulation as a “bullish” sign for the cryptocurrency market.
10. Axie Infinity has emerged as the leading decentralized application (DApp) fee revenue
Ethereum-powered game Axie Infinity has emerged as the leading decentralized application (DApp) by fee revenue in recent weeks. Axie has driven $308.5 million in platform fees in the last 30 days, equating to a daily average of nearly $10.3 million.
It was able to overtake Uniswap by fee revenue recently, with the platform generating $4.2 million in fees daily.
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.