Week 34, Aug. 23-29 : Key things that happened in Crypto & Fintech over the past week

August 31, 2021
via Freepik

Market brief: 📈

  • Bitcoin managed to break through the $50k barrier for the first time since May before retracing back to the $47k level. The king coin is battling the bears for a push higher.
  • Since the London fork upgrade and switch to the Ethereum Improvement Proposal (EIP) 1559 standard, the Ethereum Network has burned over 102,492 ETH.
  • Cardano jumped to third place in the cryptocurrency markets.
  • In August, NFT sales reached a new high of $900 million, fueled primarily by cryptopunks.
  • The total value locked in DeFi is now a mind-boggling $85 billion. To put that in context, the TVL was only $16 billion on January 1, 2021.

There is a significant gender gap in cryptocurrency investing from CNBC 👩

According to CNBC and Acorn's Invest in You: Next Gen Investor survey, which was conducted in collaboration with Momentive, men invest in cryptocurrency twice as much as women.

The gender gap in crypto exceeds the existing gap in traditional investments such as stocks, ETFs, mutual funds, and real estate.

Cryptocurrencies such as bitcoin, ethereum, and dogecoin have been promoted as a means to democratise a previously closed-off finance field and increase investor diversity.

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Network of cryptocurrency market data Pyth is now available on the Solana blockchain 🌐

Last Friday, the Pyth network, a decentralised data oracle, went live. The network debuted on the Solana blockchain and will support DeFi projects on the network.

Pyth will accomplish this by collecting data from traditional markets as well as cryptocurrencies and digital assets and aggregating it on the blockchain for use in other crypto projects such as smart contracts.

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Fox invests in Eluvio and collaborates on blockchain and NFTs ✋

Fox has made a strategic investment in Eluvio worth $100 million. The technology firm has created Content Fabric, a solution for streaming and storing video content that incorporates blockchain for certain functionality. 

Eluvio has been chosen as the blockchain technology provider for Fox's recently launched non-fungible token (NFT) unit Blockchain Creative Labs, which is part of Fox's Bento Box, as part of the investment.

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Jack Dorsey's Square building decentralised Bitcoin Exchange 🔥

According to a tweet from Jack Dorsey, one of bitcoin's most vocal supporters, TBD, his new business venture, is planning to build an open platform to create a decentralised exchange for bitcoin.

A decentralised exchange is a type of cryptocurrency exchange that allows peer-to-peer transactions without the use of a middleman.

(via Twitter)

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Cuba to recognise and regulate cryptocurrencies 🧑⚖️📝

Cuba is set to recognise and regulate cryptocurrencies such as bitcoin for payment, according to Resolution 215, which was published in the official gazette on Thursday. According to the resolution, the country's central bank will develop rules for virtual currencies.

“For reasons of socioeconomic interest, the Central Bank of Cuba may authorise the use of certain virtual assets in commercial transactions and licence virtual asset service providers for operations related to financial, exchange, collection, or payment activities,” the resolution stated.

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Ethereum NFT CryptoPunks hit $1 billion in total sales 🏷️

The non-fungible token project Cryptopunks is now a billion-dollar NFT collection as statistics show all-time sales tapped $1.095 billion, according to dappradar.com data

Cryptopunks has a bunch of records on dappradar.com’s “top sales” page, in terms of NFT sales. Cryptopunks is just below Opensea ($3.54B) and Axie Infinity ($1.68B) in terms of all-time sales.

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Top Fintech reads of the week 📈

New on Glyph

We recently had the pleasure of interviewing Caitlin Cook to share her journey, opinions, and expertise in order to shine a light on female crypto influencers and encourage other women to pursue careers in Crypto, Fintech and leadership roles.

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