The market has not changed much in the past week, but Ethereum’s gains are still exciting for the bulls; MicroStrategy’s CEO has left his post, Binance is still struggling in the Philippines market, and Solana has had a turbulent week with security. Join CoinCu to update the crypto market’s invitation news in the past week.
Market figures for the week
The crypto market’s capitalization: The market’s capitalization peaked on August 1 at $1123 billion. The average market cap for the week stood at $1083 billion, up 5.7% compared to the previous week.
Trading activity dropped significantly: The market trading volume peaked on August 1 at $71.7 billion.
The Cryptocurrency Fear & Greed Index: The market seems to have switched to a more cautious mind as the index drops to 31 at the moment.
Bitcoin’s volatility: The 30-day volatility index is estimated at 1.23%, a significant decrease compared to last week.
Interesting news of the week
Tiffany & Co. Launching Limited Edition CryptoPunk Necklace For 30 ETH
Tiffany & Co. will partner with CryptoPunk owners, giving owners the right to request a custom pendant in their punk style, containing gems and diamonds. The announced pendants cost 30 ETH.
Helium Continues To Be Accused Of Deceiving Investors With Fake Partnerships
There are many mentions of the partnership on Helium’s website and the presence of the Lime company logo in the press with various news outlets. Especially the tech giant Salesforce, introduced as one of the biggest companies to work with Helium.
However, over the weekend, reports proved that the project misled the community. Precisely, technology media company Mashable has “uncovered” this incident. Helium does not have any partnership with Lime or Salesforce, as they advertise on their website.
Binance.US Delists AMP After SEC Declares Tokens As Security
In a blog post earlier this week, Binance.US said it would delist the AMP token and remove all AMP-related trading pairs on August 15, after the token was mentioned in an action. from the United States Securities and Exchange Commission (SEC).
Michael Saylor “Leave” MicroStrategy CEO Position To Focus On Bitcoin After Q2 Report
Michael Saylor will step down as CEO of MicroStrategy and assume the role of Executive Chairman. With this new role, he will be able to focus more on Bitcoin buying and holding strategies.
Hashed Has Confirmed Losing More Than 3 Billion USD In LUNA Collapse
Simon Seojoon Kim, the CEO of Hashed, stated that in the early stages of the project, Hashed purchased 30 million LUNA tokens in an interview with Bloomberg on August 3, 2022. When the price of LUNA reached its pinnacle in early April this year, that token had a value of $3.6 billion.
Nomad Bridge’s Entire $190.7 Million Is Withdrawn In A Security Attack
The Nomad Bridge appears to have experienced a security exploit that has allowed hackers to systematically drain the bridge’s funds over a long series of transactions. Nearly $190.7 million in crypto has been removed from the bridge.
Solana Is Widely Attacked Due To The Disclosure Of Slope Wallet’s Private Key
Slope Finance appears to be the source of the Solana mining that has affected thousands of users. Wallet owners are advised to transfer funds immediately from Slope imported wallets.
On August 3, Solana experienced a security attack that affected over 8000 wallets of the platform, and the damage is estimated at around $580 million.
Finally, details about the genesis of the exploit are becoming public. On Wednesday, Slope released a statement recommending all wallet owners to transfer any cash in wallets imported into Slope. The warning expanded on the advice to state that it does “not recommend using the same seed phrase on this new wallet that you had on Slope.”
BlackRock And Coinbase Collaborate To Expand the Crypto Market
The biggest asset manager in the world, BlackRock, has teamed up with cryptocurrency exchange Coinbase to provide institutional investors with direct access to bitcoin services.
Ethereum Achieves New Goals Following 30% Increase
Popular data aggregator Glassnode has claimed that new small and mid-sized investors have begun to invest in Ethereum, the second-largest cryptocurrency, due to the coin’s recent price increase of over 30%.
Cryptocurrency Exchange ZB.com Withdrawn $4.8 Million From Hot Wallet
PeckShield discovered that ZB.com might be in the middle of an attack as nearly $5 million was withdrawn from the crypto exchange’s hot wallet. The exchange halted withdrawals on August 3 for “temporary maintenance.”
NFTS.com Becomes One Of The Most Expensive Domain Names With $15 Million
According to DomainInvest, the deal was brokered by Domainer and GoDaddy for an undisclosed buyer, while Escrow.com facilitated the sale. Jackson Elsegood, General Manager of Escrow.com, said it was one of the most significant Web3-related transactions he had ever seen on his platform.
Binance Troubled With Philippines Financial Watchdog Again
Infrawatch PH issued a 12-page letter to the SEC in early July, requesting a probe into Binance’s conduct and requesting that it be barred from functioning in the nation. According to the organization, Binance improperly marketed digital assets classed as securities without first registering with the SEC.
In response, the SEC issued a note of caution to the public against investing with the exchange, stating it is unregistered in the country after its investigation.
Bitcoin is starting to narrow its trading range as the price for the week is only around $22,000-$23,000. Will there be a break above the $28,000 support area next week? Join CoinCu to update volatile news from the market in the following newsletter.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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