Market Update (Week 50, 13/12/2021 – 19/12/2021)

Price, volatility & volume indices all tumble. Next lawsuit filed against $USDT issuer Tether.

Dec 20, 2021

Key Takeaways


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Notable events

XTZ has been fighting downward momentum since October; recent market-wide corrections have brought the coin back down to about $4.20. (ref)

The EOS community has halted ongoing payments worth around $250 million as the negotiations between the ENF and BlockOne failed. (ref) On 19 December, EOS got a neutral rating on the InvestorsObserver Sentiment Score. (ref)

Polkadot (DOT) has launched its first set of parachains, individual networks running in parallel to create a harmonised, interoperable ecosystem. The milestone follows the completion of the first five parachain auctions, a system of crowd loans amassing large amounts of DOT. (ref)

Notable events

Yearn Finance (YFI) emerged as one of the best performers in the crypto market this week, rallying by over 46% in just four days to reach a two-week high above $29,100. (ref)

A governance proposal floated by the Aave (AAVE) community centred around the platform’s code licensing has ended, with 55% voting for the ecosystem to apply for a ‘business license’. The proposal was part of Aave’s broader ‘3 release’ strategy to prevent forks. (ref)

Notable events

OMI, ANT and RAMP booked 20% gains as Bitcoin and the wider crypto sector reacted positively on 15 December after Federal Reserve chairman Jerome Powell confirmed the bank’s plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020. (ref)

Steven Cooper, the owner of Bigger Entertainment, the first crypto record label, who accepts SHIB for music, merch, tickets to events, and NFTs and then burns these coins, has tweeted that over the next sixty days, his team expects to double their SHIB burn rate. (ref)

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Ethereum / Dogecoin / Dapp / Tokens