Crypto Trends Weekly – Dec. 24–30

Breaking crypto news from the last week (Dec. 24–30, 2022):

Dec. 25: DeGods and y00ts, two of the most significant NFT projects on Solana, announced a migration to other blockchains. DeGods plans to migrate to Ethereum, while y00ts will be bridged to Polygon.

Dec. 26: Fidelity has filed three trademark applications to provide services in the metaverse and other virtual worlds in its latest move in the digital asset space. The trademarks filing is just the firm’s latest move in the field of digital assets.

Dec. 27: As of the end of December, daily spot trading volume fell below $10 billion. Trading volumes haven’t been that low since Dec. 17, 2020, when bitcoin’s price first broke past $20,000. Meanwhile, Bitcoin accumulation is nearing record 800,000 addresses despite whale selling, while Bitcoin exchange withdrawals sink to a 7-month low.

Over the past month, the highest blockchain development activity was recorded in Cardano (ADA), Polkadot (DOT), Kusama (KSM), Cosmos (ATOM), Decentraland (MANA), and Ethereum (ETH) – data from Santiment revealed. Development activity indicates a project’s dedication to creating a viable product.

Dec. 28: Coinbase stock has fallen to an all-time low of $32.40 per share, dropping 6% over the past five days. America’s largest crypto exchange is ending the year on a sad note amid falling revenues and profits.

Dec. 29: German car manufacturer BMW will be rolling out blockchain technology for its day-to-day operations and loyalty programs, with the initial roll of the product to customers in Thailand. Coinweb, the contractor, will utilize multiple blockchains, with the BNB chain as the anchor chain. BMW will integrate decentralized tech in two phases – first, in its daily operations to eliminate complex paperwork, and the second phase will see the development of a customer loyalty program.

Binance, the world’s largest crypto exchange, has added support for popular payment platforms Apple Pay and Google Pay. This move is set to boost the adoption of cryptocurrencies amid the crypto winter. Users can now buy crypto on Binance and pay through popular payment services.

Dec. 30: The Securities Commission of the Bahamas has been holding on to more than $3.5 billion worth of FTX customer assets since Nov. 12, according to a statement from the regulator. Customer assets were drained from FTX due to a security breach after the crypto exchange filed for bankruptcy protection on Nov. 11.