Crypto Trends Weekly 11 – 17 Sept.

    Breaking crypto news from the last week (11 – 17 Sept. 2021):

    11 Sept.: After a tremendous August surge of $4 billion in sales volume on the leading NFT marketplace OpenSea, recent data indicate a metaphoric return from heaven to earth. Over the last week, the sales volume has dropped by almost 50%.

    12 Sept.: A new tremendous data center is set to be built in the Kingdom of Bahrain. The multimillion-dollar main hub in Bahrain will serve all member states of the Arab League, promoting collective digital transformation across the Arab world.

    13 Sept.: Dubai-based UAE’s financial watchdog (NAMLCFTC) has adopted a regulatory framework for virtual assets. Regulators seek coordination among public and private sectors to combat money laundering and terror financing.

    14 Sept.: El Salvador announced the country is looking to exempt foreign investors from taxes on Bitcoin profits to encourage foreign investment. While “over half a million users” have registered in the country’s Chivo Bitcoin wallet, President Nayib Bukele said.

    15 Sept.: Search engine giant Google partnered with Canadian blockchain firm Dapper Labs to help bolster Web 3.0 development, including blockchain gaming and the NFT marketplace. The blockchain company’s CEO Roham Gharegozlou tweeted about the deal on Tuesday, noting that the firm was “amped to welcome Google to the Flow blockchain.”

    16 Sept.: Over 310,000 ETH, or about $1 billion worth, has been “burned” since Ethereum implemented its “London Hard Fork” system upgrade six weeks ago.

    17 Sept.: The study of Fidelity has shown an increased appetite of institutional investors for Bitcoin and crypto, while a lack of understanding is still seen as a barrier for wider adoption. 52% of all investors surveyed worldwide said they invest in Bitcoin or cryptocurrency, while 9 in 10 investors see those assets appealing.

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