Market Update (Week 49, 6/12/2021 – 12/12/2021)

Price index recovers, volatility & volume indices fall. Vitalik Buterin reveals endgame for ETH 2.0.

Key Takeaways

• MicroStrategy purchased 1,434 bitcoin between 29 November and 8 December for roughly USD82.4 million, making its total holdings 122,478 BTC. With the recent buy, MicroStrategy’s holdings are valued at more than $5.9 billion.
• Vitalik Buterin outlines the ‘endgame’ roadmap for ETH 2.0. Vitalik presented a future where Ethereum can increase its scalability while meeting high standards for trustlessness and censorship resistance.
• The NBA All-Star’s Baron Davis Enterprises has officially signed an agreement with Crypto.com, which is centred around an exclusive Black Santa-themed NFT drop.
• The general price index increased by+1.41%, while the volume and volatility indices decreased by -20.70% and -38.24%respectively.

Highlights

• Binance Singapore drops crypto license plans in city-state
• AscendEX loses $80M following ERC-20, BSC, Polygon hot wallet compromise
• $200 million worth Shiba Inu and other tokens stolen from BitMart exchange
• Coinbase launches Ethereum-based DeFi yield product for global customers – here are the eligible countries
• Cardano’s DEX SundaeSwap launches public testnet
• French fintech startup Lydia raises $100 million in series C funding round
• Hong Kong-based Chiron Partners launches $50M Terra fund
• Visa announces new crypto consulting service for merchants and banks
• Polygon to invest up to 250M MATIC into zero-knowledge tech
• IMF releases guidelines for a uniform global crypto regulation framework
• Opera and Solana announce partnership to support dApps and a wallet in the browser
• Reelected Miami mayor to take 401k retirement savings partly in Bitcoin

Check the latest prices on crypto.com/price.

Notable events

The gaming company Ubisoft is launching Ubisoft Quartz, a platform where users can acquire unique NFTs called Digits, which can be used in-game and the platform will utilise Tezos (XTZ) blockchain. (ref)

EOS founder Daniel Larimer proposed reshaping and restructuring the EOS brand. This might reformulate a new vision and new goals to encourage community members to participate and promote community growth. (ref)

Parallel Finance announced winning Polkadot’s (DOT) fourth parachain slot, with contributions totaling 10.75 million DOT–equating to roughly $300 million. (ref)

Notable events

NFTmall announces the integration of Chainlink (LINK) Verifiable Random Function (VRF) into the NFTmall ecosystem on Ethereum, Binance Smart Chain (BSC) and Avalanche mainnets. (ref)

Coinbase now offers access to DeFi yields with Dai and Compound (COMP). More assets and other DeFi protocols will follow, Coinbase said in a blog post. (ref)

Notable events

According to reports, the e-commerce giant Amazon has recently invested in a fractional sports trading card marketplace called Dibbs. The platform, built on top of the Wax (WAXP) blockchain, allows users to purchase and sell fractions of collectible trading cards. (ref)

Tesla CEO and billionaire Elon Musk has once again ‘endorsed’ Dogecoin (DOGE), saying that DOGE can be used to make Decentralised Finance (DeFi) more accessible to everyone. (ref)