Crypto Trends Weekly July 30 – Aug. 5

Breaking crypto news from the last week (July 30 – Aug. 5, 2022):

July 30: Finder.com, a panel of crypto industry experts, expects Dogecoin (DOGE) to completely lose its value. Dogecoin “was a meme coin that shouldn’t have really gotten to this point,” experts said, blaming Tesla CEO Elon Musk for the popularity of the meme cryptocurrency.

July 31: Blockchain gaming and metaverse projects seem to have been making over the bear market much better than the other market niches. Despite the crypto market crash, the GameFi sector has spiked by 9.51% in Q2 2022, DappRadar’s new report revealed.

Aug. 1: OasisX, a multichain curated NFT marketplace and creator studio, has set up its base in Dubai Multi Commodities Centre (DMCC) in the UAE and will be launched in the next few weeks. OasisX has already onboarded about 100 artists and multiple local brands in the MENA region.

Aug. 2: According to Nansen’s new report said, market participants spent 963,227 ETH, or about 2.7 billion, on NFT minting on the Ethereum blockchain during the first half of 2022. Over 1 million unique wallet addresses were involved in the minting process, signaling that NFT market activity remained strong.

Aug. 3: Nigeria and the UAE remain the most cryptocurrency-obsessed markets, CoinGecko’s new study said based on Google Trends search data. Analysts suggest that top-list countries seem more interested in buying the dip, reflecting their long-term outlook for cryptocurrencies.

US crypto firm Nomad has suffered a $190 million hack, blockchain analytics reported on August 3. Experts estimate the funds have been stolen from cross-chain bridges to $2 billion so far in 2022.

Aug. 4: Coinbase’s stock soared over 18% following the crypto exchange signing a deal with BlackRock, the world’s biggest asset manager cumulatively manages about $20 trillion. Meantime, Meta announced that it integrated Coinbase’s crypto wallet into the Instagram platform.

Social media giant Meta has started to roll out NFT support on Instagram across 100 countries after integrating with Coinbase Wallet and Dapper, as well as it will also add support for NFT-focused blockchain Flow. The price of the FLOW token has surged nearly 44% over the day following Meta’s announcement.

Aug. 5: Leading derivatives marketplace CME Group is set to offer its first euro-denominated Bitcoin and Ether futures on August 29 after its crypto derivatives posted record open interest volumes in Q2 2022. CME Group executive revealed that Europe, the Middle East and Africa region accounts for 28% of total BTC and ETH futures contracts traded.