WEEK 44, Nov 1-7: Australian bank offers Crypto services🎉; Squid Game crypto, just a scam😔💔

November 1, 2021

Market Brief:

There are two “dogs” in the top 10 cryptocurrencies by market value Shiba Inu and Dogecoin. Tom Brady, a ball, and a Bitcoin. Burger King rewards customers with cryptocurrencies. A week after Bitcoin reached its highest price, Ether and Bitcoin take a dive while the Dogecoin surges. WWE gets its own token to honor iconic moments and WWE legends.

Australian Commonwealth Bank becomes the first bank in its country to offer crypto services. Australia is the world's third-largest adopter of cryptocurrencies. India pays $3.5 billion in forex fees every year.

Here are the 24-hour summaries of the five most traded cryptocurrencies as of 1st November 2021:

1. BTC 2.03%
2. ETH 1.51%
3. USDT -0.01%
4. XRP -0.68%
5. ADA 1.39%

Here’s a summary of the significant changes for the last 24 hours as of 1st November 2021:

1. QTUM 33.10%
2. LRC 20.25%
3. STORJ 16.7%
4. GRT 10.01%
5. SHIB 11.66%

1. ZRX -12.34%
2. NANO -6.84%
3. CVC -5.53%
4. ZEC -5.0%
5. SE -3.95%

(Source: CoinDesk)

The rise and fall of Squid Game’s cryptocurrency

Gamers created an online version of the program, for which you need the Squid cryptocurrency to play. From Tuesday to Friday, the price skyrocketed from 1 cent to $4.39. It was criticized for not allowing people to resell their tokens- a scam commonly known as a “rug pull” in the industry. Squid's developers have made off with an estimated $3.38m. It reached a peak value of $2,861, before plummeting to $0.

Burger King now rewarding loyal customers with cryptocurrency

Popular fast-food chain Burger King has partnered with Robinhood to reward their loyal customers some DOGE coins, or even Ether or Bitcoins. According to Burger King, a large number of customers will receive DOGE coins, 1 in 10,000 customers will receive Ether, and 1 in 100,000 have a chance of winning Bitcoin.

Sunny Leone gets her own NFT

American adult film actress Sunny Leone now has her own NFT collection titled “MISFITZ”, which sold out almost immediately. She hosted a sale from the NFTs website on the Ethereum blockchain. Leone later stated that public sales would start in a few days.

photo by sunnyleonenft

Robinhood suffers 78% plunge in crypto revenues

Although the trading platform pocketed $51 million in fees from crypto transactions during Q3, that’s a 78% drop from Q2. Much of this has been linked to the diminishing demand for Dogecoin. The disappointing performance also resulted in Robinhood falling well short of analysts’ estimates for total revenue — coming in $58 million shies of the $423.9 million that had been expected.

Miami Mayor Francis Suarez aims to take his next paycheck in Bitcoin

In a tweet, the pro-crypto mayor introduced himself as one of the few political leaders in the United States to receive his pay in bitcoin. The mayor of Miami receives a salary of $ 187,500, according to the Miami Herald. His vice president of innovation, Mike Sarsti, tweeted that after successfully receiving some of his latest Bitcoin payment checks through the service, he sent the mayor the strike subscription link.

Coinbase, now the most downloaded app on the App Store

Coinbase has dominated the App Store, with more downloads than Instagram and TikTok combined. Coinbase is currently the #1 ranked free software on the App Store, according to the latest App Store statistics, leaving TikTok, Instagram, YouTube, and the recently popular mobile football game “Retro Bowl” in its wake.

Tom Brady gifts 1 Bitcoin to fan

Tampa Bay Buccaneers quarterback Tom Brady gifts his fan, Byron Kennedy 1 Bitcoin for the NFL star’s 600th touchdown ball. Brady was thankful for receiving the ball back, and the fan had negotiated beforehand with the trainers about the payment of the Bitcoin.

photo by touchdownwire

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