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0 CommentsBreaking crypto news from the last week (Nov. 6 – 12, 2021):
06 Nov.: Mythical Games, a blockchain-based gaming company, has raised $150 million in a Series C round led by Andreessen Horowitz (A16z) at a $1.25 billion valuation. The firm will use the funds to expand its team, scale operations, and bring new game developers to its non-fungible token (NFT) platform.
07 Nov.: Decentralized finance, also known as DeFi, has continued its unabated growth in the crypto industry as one of the metrics used to measure its progress, total value locked (TVL), has reached a new all-time high of above $250 billion. While Ethereum holds the lion’s share of TVL in DeFi, a great number of decentralized applications (Dapps) are supporting a slew of alternative blockchains.
08 Nov.: JPMorgan analysts said that crypto investors should hold Ethereum rather than Bitcoin as the interest rates rise. While Ethereum powers such booming market areas as decentralized finance and non-fungible tokens, Bitcoin, similar to gold, is likely vulnerable as bond yields and interest rates rise.
09 Nov.: The global cryptocurrency market cap crossed the $3 trillion mark, while major cryptocurrencies rose, hitting their highest levels in three weeks, according to CoinGecko.
10 Nov.: Phoenix Technology Consultants LLC, a tech firm based in the UAE, has ordered crypto mining rigs for $650 million. This one of the largest purchases on record was revealed on Tuesday by Phoenix Tech CEO Munaf Ali at the World Digital Mining Summit (WDMS) in Dubai.
12 Nov.: Bitcoin’s major upgrade, known as Taproot, has been activated to improve the blockchain‘s functionality. It’s the first major upgrade since 2017. Developers are now able to add new features to improve privacy, scalability, and security on the Bitcoin blockchain.
