Crypto Trends Weekly Oct. 2 – 8

    12 Oct 2021

    Breaking crypto news from the last week (Oct. 2 – 8, 2021):

    02 Oct.: The Global DeFi Adoption Index showed an 880% increase in the usage of DeFi. However, crypto is not so close to becoming mainstream as some developed markets become reluctant on the crypto market.

    03 Oct.: Dubai Police has teamed up with cryptocurrency trading platform BitOasis to educate investors and traders about crypto fraud.

    04 Oct.: Coinbase has informed more than 6,000 customers that they have been hacked. The hackers used an unusual vulnerability in the SMS account recovery process, which gave them access to personal information and wallets. The American crypto exchange already said that all customers affected will have the stolen assets refunded automatically.

    05 Oct.: NFT sales volume surged 700% in Q3, hitting new highs of $10.7 billion year-to-date. The increase was powered by a record-breaking August that saw over $5.2 billion in trades.

    Billionaire investor George Soros’ family office, Soros Fund Management, has invested in Bitcoin, according to Soros Fund CEO/CIO Dawn Fitzpatrick.

    06 Oct.: MoneyGram International has partnered with the Stellar Development Foundation, a non-profit organization developing Stellar blockchain, to enable consumer’s cross-border transactions using popular stablecoin USD Coin (USDC) and convert directly to and from fiat.

    07 Oct.: Shiba Inu continues its impressive performance with another massive surge of over 60% in a day. Moreover, SHIB is up by over 300% in the past week, becoming the top 20 coins by the market cap, which reached $12 billion.

    08 Oct.: US bank JPMorgan said in a note that a range of factors may be fueling the rally, including institutional investor appetite, assurances that the US won’t ban BTC, and the recent rise of the Lightning Network.

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