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Home Crypto 101

Weekly Crypto Market Update Reports (July 30th- August 5th, 2022): Cross-chain Bridge Is Still A Hacker’s Vision

August 12, 2022
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Fractional Rebranded, Raised $20 Million

Yuga Labs Only Accepts NFT On ETH PoS

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.

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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).

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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.”

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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%.

Weekly Crypto Market Update Reports

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.”

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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.

Weekly Crypto Market Update Reports

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Contents

  • Market figures for the week
  • Interesting news of the week

Crypto 101: 10 Best Security Methods For Cryptocurrency Users (Part 1)

Crypto 101: What Is Crypto Cold Wallet?

Crypto 101: Binance Launchpad, A Guide For Potential Projects

Tags: #BitcoinBinanceBinance.USBlackrockCoinbaseEthereumhashedHeliumhighlightmarketMichael SaylorNFTS.comnomad bridgeSolanaTiffany & Co.ZB.com
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Contents

  • Market figures for the week
  • Interesting news of the week
  • UK Inflation Hits A 40-Year Record, Bitcoin Drops More Than 2.5%

    UK Inflation Hits A 40-Year Record, Bitcoin Drops More Than 2.5%

    126 shares
    Share 50 Tweet 32
  • Celer Network’s cBridge Is Under DNS Attack

    104 shares
    Share 42 Tweet 26
  • Google Has Invested $1.5 Billion In Blockchain Companies Since September 2021

    106 shares
    Share 42 Tweet 27
  • HUSD Stablecoin Backed By Cash Loses Peg, “Rug Pull” Suspect?

    95 shares
    Share 38 Tweet 24
  • Federal Reserve Allowing Cryptocurrency Banks Access To Central Banking System

    143 shares
    Share 57 Tweet 36
Tether Cooperates With BDO Italia To Do Attestation Reports For USDT

Tether Cooperates With BDO Italia To Do Attestation Reports For USDT

August 18, 2022
Ontario Exchanges Limit Altcoin Purchases To $30,000 US Per Year

Ontario Exchanges Limit Altcoin Purchases To $30,000 US Per Year

August 18, 2022
GitPOAP Raises $4 Million To Enable On-Chain Github Contributions

GitPOAP Raises $4 Million To Enable On-Chain Github Contributions

August 18, 2022
Fractional Rebranded, Raised $20 Million

Fractional Rebranded, Raised $20 Million

August 18, 2022
SuperLayer $25 Million Venture Studio Fund Is Led By Polygon’s Investment

SuperLayer $25 Million Venture Studio Fund Is Led By Polygon’s Investment

August 18, 2022
South African Reserve Bank Promotes Positive Cryptocurrency Behavior

South African Reserve Bank Promotes Positive Cryptocurrency Behavior

August 18, 2022
Yuga Labs Only Accepts NFT On ETH PoS

Yuga Labs Only Accepts NFT On ETH PoS

August 18, 2022
Canaan The World’s Largest Mining Company Increases Revenues Despite The Crypto Prohibition

Canaan The World’s Largest Mining Company Increases Revenues Despite The Crypto Prohibition

August 18, 2022
HUSD Stablecoin Backed By Cash Loses Peg, “Rug Pull” Suspect?

HUSD Stablecoin Backed By Cash Loses Peg, “Rug Pull” Suspect?

August 18, 2022
Coinbase CEO: We’d Rather Stop Staking Than Censor Ethereum

Coinbase CEO: We’d Rather Stop Staking Than Censor Ethereum

August 18, 2022
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