Crypto Trends Weekly Sept. 25 – Oct. 1

    04 Oct 2021

    Breaking crypto news from the last week (Sept. 24 –Oct. 1, 2021):

    25 Sept.: Solana announced the launch of the Wormhole Network, an Ethereum – Solana cross-chain bridge, which enables the transfer of digital assets between ERC-20 and SPL blockchains. Saber, the Solana-based protocol with more than $4 billion total-value locked (TVL), will support migration from Wormhole V1.0 to V2.0. While the TVL of the top five cryptocurrencies approaches $150 billion, cross-chain bridges are highly demanded.

    26 Sept.: While the world speculates on which cryptocurrencies to invest in, a hamster in Germany named “Mr. Goxx” has been trading various crypto since June and has been outperforming Warren Buffet, Bitcoin, and the S&P 500.

    27 Sept.: Cryptocurrency exchanges have begun cutting links with customers in China after Beijing declared more activities related to digital coins “illegal” last week, in its latest broadside against the virtual currency industry.

    29 Sept.: According to a Chainalysis report, Central, Northern, and Western Europe (CNWE) have become the world’s biggest crypto economy. Over the last year, the region has received over $1 trillion worth of cryptocurrency, reaching 25% of all global activity. The tremendous growth that started in July 2020 pushed Europe from second to first place since last year. Amid retail activity increased, institutional investments drove most of the transactions, with 50% going to DeFi.

    30 Sept.: Dubai Economy has signed an agreement with leading licensing authorities, such as Dubai Silicon Oasis Authority, Dubai Multi-Commodities Center, and Dubai Airport Free Zone Authority, to participate in the Know Your Customer Blockchain Platform through the Unified Business Registry Platform. It will facilitate faster and more secure customer onboarding and allow sharing of verified e-KYC data between authorities and financial institutions.

    01 Oct.: The Bank of International Settlements (BIS) and seven different central banks, including the Bank of England, Bank of Japan, European Central Bank, and U.S. Federal Reserve, published three new reports, which find that while a groundbreaking innovation to monetary policy, central bank digital currency (CBDC) pose many opportunities and uncertainties.

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