Crypto Trends Weekly 07 – 13 Aug

    15 Aug 2021

    Breaking crypto news from the last week (07 – 13 Aug.2021):

    07 Aug.: MakersPlace, one of the original NFT marketplaces, has announced a $30 million Series A round of venture financing on Aug 4, led by Bessemer Venture Partners and Pantera Capital. It also includes a number of backers from the venture arm of Coinbase and Sony Music Entertainment to many important persons in the worlds of sports, music, and art.

    08 Aug.: The IRS has seized crypto $1.2 billion worth in total this fiscal year. Since the 2013 takedown of Silk Road, a dark web marketplace trading in illegal goods, where Bitcoin was often used for payment, the U.S. government regularly holds auctions for its stockpile of Bitcoin, Ethereum, Litecoin, and other cryptocurrencies it seizes and holds.

    09 Aug.: Ethereum surged steeply after its new upgrade with the codename “London” took place. This update should change the fee structure of each transaction, making those fees less volatile while reducing the amount of ETH in circulation. Another major transformation of Ethereum is to go off from proof-of-work mining to proof-of-stake model, which will make it harder for miners to earn money and eventually could make mining irrelevant.

    10 Aug.: The cryptocurrency market has continued a notable rise, surging $700 billion over the past 21 days, with the total market capitalization breaking $1.9 trillion. Crypto markets have maintained a bullish trend in early August, surging or 58% over three weeks and nearing $2 trillion in market capitalization. The total crypto market cap broke the $1.9-trillion on Monday, regaining this level first since May 18.

    11 Aug.: The Poly Network suffered a $612-million hack that did the hacker steal assets from Ethereum, Binance Chain, and the Polygon Network. It’s the biggest heist in DeFi history. However, the suspected hacker already returned over half of the stolen funds, saying he did it “for fun.”

    12 Aug.: According to a new KPMG report, cryptocurrency and blockchain investments continue to grow thanks to ever-rising investor interest and have already doubled the value since 2020. Investors now have a better understanding of crypto assets and the operational and procedural side of crypto, a report claims.

    13 Aug.: The NFT boom caused OpenSea trading volume to explode 76,240% year-to-date. The non-fungible token (NFT) marketplace processed 1.18 million transactions worth $1.06 billion just in the last 30 days. Trading volumes on peer-to-peer nonfungible token marketplace OpenSea in 2021 have surged by over 12,000%.

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