Crypto Trends Weekly 14 – 20 Aug.

    23 Aug 2021

    Breaking crypto news from the last week (14 – 20 Aug.2021):

    14 Aug.: Launched in the UAE, the 6-part online course in crypto aims to help young students understand the power of the crypto market. The program covers subjects from the history of money to how to create one’s own non-fungible token.

    15 Aug.: Major fashion house Philipp Plein, based in London, has started accepting 15 different types of cryptocurrency, expecting the biggest impact to be through its online channels over in-store purchases. The company’s founder believes that other leading brands will follow his suit.

    16 Aug.: Walmart, the largest U.S. retailer by total sales, is looking to hire a “digital currency and cryptocurrency product lead” to “own and drive the digital currency strategy,” following Amazon looking for ways to let customers pay for goods with cryptocurrencies, which could be a promising development for the crypto community.

    17 Aug.: Fitch Ratings said in a note that El Salvador’s move to embrace Bitcoin as legal tender poses a serious risk to its local insurance companies. As Fitch said, Salvadoran insurers will be under pressure to quickly convert Bitcoin to dollars to avoid price risk; otherwise, they could face steep losses.

    18 Aug.: Non-fungible tokens (NFTs) trading is soaring to 8x multiples of the levels seen this March when the NFT frenzy burst into mainstream media with sound headlines, as art dealers were excited. Digital collectibles mania seems to be back as the NFT flagship marketplace prints new records, according to the trading volumes on the OpenSea platform.

    19 Aug.: Following the debut success of Kusama Parachain auctions back in June of this year, Polkadot announces the next 5 Parachain auctions on Kusama. The Kusama community should expect the sixth Parachain slot auction to commence on September 1.

    20 Aug.: Cardano (ADA) has achieved a new all-time high of $2.54 in the early hours of trading Friday morning. ADA’s market capitalization topped $80 billion compared to Binance Coin’s (BNB) $72.1 billion. It also has surpassed Tether (USDT) in total market capitalization, becoming the third-largest crypto in the world.

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